PERSISTENT SYSTEMS has reached the supply zone with no major retracement move and formed an inside candle with the low of the candle being broken today. A strong bearish candle in the making which is indicating confirmation to go short side trade. Short side trade via put option or short future with buying call as hedge makes sense. SL 4964 tgt 4560, 4460
All analysis has been given on charts itself.
The stock has been bouncing from the support Level, hence the stock may bounce back from there again. Hence Trades must be taken only above suggested levels of 1855 i.e Confirmation Level.
Upcoming Target: 1920 and 1942.
Feel free to share your feedback and queries.
Stock has given clear breakout from long consolidation of 6 month's.
Results were nice!!
Low float and operators.
For info, they are working on blockchain tech 😊
Please do your own analysis as well.!
May Hold After Target Reached.
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Super Bullish on this stock.
From Rachit Sethia with 💚