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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BSOFT
BIRLA SOFT - SWING TRADE ON LONG SIDESymbol - BSOFT
BSOFT is currently trading at 565
I'm seeing a trading opportunity on buy side.
Buying BSOFT Futures at 565
Holding with SL of 545
Targets I'm expecting are 590 - 618 - 650
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
BSOFT - Ichimoku Breakout📈 Stock Name - Birlasoft Ltd
🌐 Ichimoku Cloud Setup:
1️⃣ Today's close is above the Conversion Line.
2️⃣ Future Kumo is Turning Bullish.
3️⃣ Chikou span is slanting upwards.
All these parameters are shouting BULLISH at the Current Market Price and even more bullishness anticipated AFTER crossing 750.
🚨Disclaimer: This is not a Buy or Sell recommendation. It's for educational purposes and a guiding light to learn trading in the market.
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BSoft-ATH breakout retest of an investment stockNiftyIT sector is looking very weak as we have seen a breakdown of support.
BSoft is one smallcap IT stock which has big potential to grow in future.
Currently, stock is retesting its previous ATH and once stock goes above 650, a good swing trade can be initiated only if NiftyIT turns bullish.
If we see a fall in this stock and you are a long term investor, best price to accumulate this stock is between 490-520. Stock becomes extremely weak below 380.
Bsoft (Looks Ready for 690, 720)Bsoft will be giving a range breakout tomorrow if it closes above 654. Also, it might cross 50 EMA and 200 SMA level (655). Closing above 654 tomorrow, we shall see 690 level initially, and then 720. Stop loss can be placed at the low of tomorrow's closing candle (Friday, 7th June).
Disclaimer: I am not a SEBI registered analyst. All the stocks are for educational purposes. Investors must consult a financial advisor before making any investment. It is not a buy or sell recommendation.
BSOFT - TREND CHANGED ?Symbol - BSOFT
Birlasoft is engaged in Computer programming, consultancy, and related activities. It provides software development and IT consulting to its customers predominantly in Banking, Financial Services, and Insurance, Life Sciences and Services, Energy Resources and Utilities, and Manufacturing. The Company’s registered office is in Pune. It is part of The CK Birla Group, Birlasoft, comprising over 10,000 plus professionals.
This stock has given great returns to investors as well as traders in last 1 year.
This stock was buy on dips since May 2023 but right now as per technical chart & price action, I think trend is changed from buy on dips to sell on rise as there exists clear Head & Shoulders pattern on larger time frame.
I have made short positions in futures already around 690 level & will find opportunity to sell it on each rise until it breaks 730-735 levels which is H&S neckline. So, My SL is placed above 735.
Targets I'm expecting on downside will be 575 - 560 - 535.
P.S. : Swap markets are now pricing in just one Fed rate cut in 2024. The Fed will keep the rate unchanged at its May 1 meeting. Powell is expected to tighten rhetoric and signal that there will be fewer rate cuts this year than previously expected. If this happens, This will result in strong profit booking in IT stocks specially mid and small caps.
Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
BSOFT - Long Setup, Move is ON..NSE:BSOFT
✅ #BSOFT trading above Resistance of 790
✅ Next Resistance is at 974
Related charts:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
BSOFT - Long Setup, Move is ON..NSE:BSOFT
✅ #BSOFT trading above Resistance of 672
✅ Next Resistance is at 790
Related charts:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
BSOFTPrice is at long term support (previous resistance turned into support), making a double bottom on weekly charts with RSI showing +ve divergence and a falling wedge pattern at 61.8% retracement levels from Covid low to ATH. Keep this setup in watchlist, Risk to Reward are in favour of longs here.
Bearish for BsoftWith the completion of ABCD pattern, Bsoft is entering a sell zone below 539.
So selling below 539
Stop loss above 557
Targets are 525, 518.50
On successful breakout of T2 518.50, next levels I'm looking are 507 and 493 but these will be executed with shifting the SL down as the price moves downside.
BSOFT - Ichimoku BreakoutStock Name - Birlasoft Ltd
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 544
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
#CloudTrading
#IchimokuCloud
#IchimokuFollowers
#Ichimokuexpert
I hope you all like my analysis.
Please do share your thoughts into comment section.
Please give a like, share & subscribe for daily analysis.
BSOFT - Long Setup, Move is ON..NSE:BSOFT
✅ #BSOFT trading above Resistance of 498
✅ Next Resistance is at 582
Related charts:
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
BSOFT - Ichimoku BreakoutStock Name - Birlasoft Ltd
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 472
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
#CloudTrading
#IchimokuCloud
#IchimokuFollowers
#Ichimokuexpert
I hope you all like my analysis.
Please do share your thoughts into comment section.
Please give a like, share & subscribe for daily analysis.
Bsoft bull traders are in a buy-or-die situation
The price moved back inside the downtrend channel despite the bulls' best efforts to break it, due to selling pressure. The price was then successfully pushed out of the channel by the bulls again, and it is currently trading close to a strong supply area.
Bull movement could occur if supply zone is breached. BSOFT may move sideways or downward if this zone is not broken and continues to function as a strong supply zone.
I genuinely hope that you will find my analysis useful. If you believe this analysis is beneficial, please Like it and follow me on TradingView for more analysis like this.
BSOFT Projection based on ElliotWaves Theory - MultibaggerBirla Soft Projection based on Elliot Waves theory comes to 1500+ in Next 2 years.
Based on EW theory we have seen Wave 1-2-3-4 Completion. Wave 3 was very Impulsive where stock has given > 11x times ROI in 23 Months.
Now that Wave 4th is Completed we can see start of Wave 5 with Targets coming 6x-7x time LTP.
It can be a Multibagger for coming 2-3 Years. So Be Invested for Handsome ROI.
Happy Investing to My Friends & Followers. I will Publish Video Explaining same on my Youtube channel on coming Saturday.