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Eventdriven

'SAKSOFT' ready for a 'LOFT'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 ponder is stock is going to split on 23rd hence traders who avoid playing events are advised to be on the backfoot or sit with a tight stop and the event trader can take an aggressive stance.
NSE:SAKSOFTLong
by Chaser30
Indian Bank - Merger diving the rally.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 compared to other banks in the country but the NPA's too, rising on average of 5% p.a. for the last 3 years. Forget the the bank acquired, Indian Bank NPA's rose at 17% average for the same period. NPA's (Gross) do not affect the stock prices as much as they are tend to be commercialized in the journals. Although, the relationship is significant but not very strong. The story is a bit different with Net NPA or Provision. With that said, the bank still shows signs of a high curvature from the last trajectory.
NSE:INDIANBLong
by Sarthak_Singh