Birlasoft has been trading in a parallel downtrend channel since May 2022. downtrend channel broke out on 1st December 2022.
I'm happy to say that our analysis, which was done on November 13, 2022, correctly predicted the end of the downtrend.
If we look at the weekly time frame, we can see that the "wave volume divergence" indicator has given a...
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...
Birla soft : Rounding Bottom Breakout
>> If gap up wait for retracement and try to pick up nr safe entry levels
>> Good strength in stock
>> Good Volume participation
Happy Trading !!!
BSOFT - Analysis done on 2 hours chart. Enter once the trend line is broken and the candle is closed above the trend line. Follow the red line as SL and the yellow line as a target. W- Gartlwy harmonic pattern may form.
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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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...
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]")
