Finally, SAKSOFT has given a breakout from huge consolidation of almost 1yr.
During this period, it constructed a massive inverted head and shoulder pattern whose
depth is 36% and breakout came above 1140.
Both volume and RSI are supporting the up move. RSI is breaching above 60.
Volume has started buzzing despite Nifty IT lacking strength.
The only thing to...
SUNTV | Momentum occuring for 20%
CMP : 485 (Dip : 460)
SL : 442
Target : 580
Already we are holding this stock in holding - now averaging some more. Looks good for new positions too
1:3 risk reward setup
SUNTV | Election impact ahead - Can see 40%
CMP : 478 (Dip 430, 410)
SL : 400
Target : 660
Risky election and price action bet, However its a great valued company.
A short term view :
The stock is showing a turnaround in the higher timeframe setup. The reason is obviously the merger as the major momentum came after the budget.
For now the flag pattern is emerging and a breakout in the upper direction can give a good push and good returns.
A long term view :
No doubt Allahabad bank has the largest number of fixed assets...
