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.
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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Although 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...
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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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...
Birlasoft (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...
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...
BIRLASOFT 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...
![BSOFT: Simple Trade Setup | BIRLA SOFT | 11-04-2022 [INTRADAY]](https://s3.tradingview.com/z/z2sd26fs_mid.png "Simple Trade Setup | BIRLA SOFT | 11-04-2022 [INTRADAY]")
