1) Trend is strong bullish 2) earlier we have sawn a cup and handle pattern worked well 3) resistance is crucial as tested 5 times After a confirmed breakout we can witness a sharp up move again
Birla Soft is very good and strong fundamentally. On charts its looking ready for good moves. But market sentiments are important. Will initiate trade once resistance are broken with good volumes. Keep watching. R1=272 R2=284. ##Always do self analysis before you trade. Profit is yours and so is your loss. ##
Daily Chart Pattern Breakout Candidate Positive Volume Buildup Can give good 10% - 20 % gain PROS Company is almost debt free. Company has been maintaining a healthy dividend payout of 20.53% Debtor days have improved from 104.84 to 82.09 days. CONS The company has delivered a poor sales growth of 1.94% over past five years I am not a SEBI registered...
Logic 1) Rounding bottomformation 2) Key resistance breakout 3) Flag formation ( in small time frame) 4) Consolidation breakout Entry should be at brakout Sl should be at lower range of consolidation
Birlasoft chart analysis for intraday and swing trading
result of Birlasoft chart analysis
200 Level is good resistance for the stock from it has been rejected 3 time before. Now it seems stock may broke out 200 level very soon. A small position can be added near 194 level and further it can be added above 200. SL can be kept at 182 level. A shakeout of weak holders is expected.
Major Resistance Breakout seen in BSOFT with high volume. Buy only if the high of the breakout candle is broken. Target a 1:1 ratio first. Then, if you want, you can keep 25% of your position for 1:1.5 target. Buy levels: 181-183 Stop Loss: 149.3 First Target: 212 Second Target: 227
NSE:BSOFT Short at 74.30 with SL at 75.05 and TP at 72.75. Note: Consult your registered adviser before taking any decision. Always risk 1% of account size per trade, adjust the position size accordingly.