Cup & Handle Pattern | BSOFT⭕️ Swing Trading opportunity ! Hourly Analysis Alert !!!⭕️
✍️Technical Reasons to trade or Strategy applied :-
✅ Rally Base Rally Demand Zone
✅Strong Chart Pattern
✅Parallel Channel worked as Support And Tgt
✅Breakout confirmation
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Birlasofttechnicalanalysis
Birla SoftBirla Soft
Details mentioned in chart itself!
CA Diptii Saeth
NISM and NCFM Certified Technical Analyst
BIRLASOFT - LONG TERM - HARMONIC Bullish Bat Harmonic completed on daily TF.
Potential Targets marked based on Fib retracement.
Security is still in the bearish zone, trading below 20 EMA.
BirlasoftThis stock best for swing trade
I have also mentioned entry and stop loss
Be care full dont change stoploss in downside
Stoploss<target
BSOFT Buy opportunity Intrady or Possible Swing Trade OUR ANALYSIS, WHICH WE DID ON NOVEMBER 23, WAS ACCURATE; AS WE EXPECTED, BSOFT MOVED UPWORD VERY SHARPLY AROUND 18% FROM DEMAND ZONES.
We now have another buying opportunity on Bsoft as a retest of the breakout after a month. again This trade will have a low risk and high reward.
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Is buyer getting control around the support zone? - BSOFTAlthough the price of Birlasoft stock is clearly falling, it is currently trading near to its weekly and monthly support levels. The weekly and monthly support zones are where the stock is most likely to find solid support, and it is also where it is most likely to climb upward from. The fundamentals of the stock are also very strong and have released recently good results.
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Thank you.
Simple Trade Setup | BIRLA SOFT | 11-04-2022 [INTRADAY]NSE:BSOFT
Observations:
1) On 1day time frame, we can see 480 as immediate support and also see a support channel.
As far as it is sustaining above this, it has potential to give up move.
Immediate major resistance is at 500. Breakout of it will lead a good up move.
Please refer below chart : 1day time frame.
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Trade Setup for 11-04-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Also note some of levels such as bonus and ultimate levels are far from current price, this can be achieved in coming days if not achieved in intraday big moves.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Birla Soft (Bullish)Birla Soft:
Industry: IT Consulting and Software
The stock is discounted at 17% from all time high levels.
Daily Chart:
1. Formation of Inverted Head and Shoulders Pattern
2. Positive Crossover of 5, 13 Days Exponential Moving Average
3.Target 1 would be Length of shoulder i.e 520 levels
4. Target 2 would be Length of Head i.e all time High levels i.e 580 levels
Addl Points:
1. FII/FPI have increased holdings from 17.38% to 17.39% in Dec 2021 qtr.
2. Mutual Funds have decreased holdings from 18.74% to 18.30% in Dec 2021 qtr
Note:
The above analysis is just for educational purpose.
Birlasoft (India) Ltd - 25.03.2022Birlasoft (India) Ltd - 25.03.2022
The stock is trading @ 465.90 levels
The stock has made a DOUBLE TOP @ 486 levels
The prices are above EMA
There is a ENGULFING BEAR in Daily Charts
There is a SHOOTING STAR in Weekly Charts
There is a MACD Bearish Divergence in Daily Charts
RSI is 53 in Weekly Charts (It will be risky for making a Short Position in this stock)
One can initiate a SELL Position below 455 with Support @ 471
Watch out for the price action
📊 Birla Soft Resistance levels 🎯NSE:BSOFT
if find perfect reversal then only short for swing.
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called PRZ, From That Dash Line To that Horizontal Simple Line Area Is Whole PRZ(Price Reversal Zone).
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.
BIRLASOFT (BSOFT): Simple Technical Analysis on weekly chartBIRLASOFT emerged out of 22 weeks of consolidation. The stock has consistently remained above weekly 30 ema. This ensures the stock is strong. When the stock breaches the 30 weekly EMA, then we need to be cautious.
Currently, RSI around 70 and in upward trajectory denotes positive momentum
Also, important point to note: RSI has very rarely breached 60 with strength, and when it did it has quickly recovered and continued in its upward journey.
Target of 550 in the short to medium term.
