Cyient ltd. is trading in Wave 4,It may give break out above 1914 of trend line and wave4 correction. As per Elliot wave theory after break out it will come in wave 5 and target would be equals to wave 1, which is 2743.
TCS is India's largest IT stock which has been consolidating since 2021 in an inverted head and shoulders pattern. Stock has managed to give weekly closing above neckline with decent volumes. Positional traders can also keep an eye on this breakout. If it sustains, we can see good quick move in the stock. However, markets are also trading at ATH and a correction...
Observation & Overview: 1. The IT Index was beaten down in late 2022. 2. After 2023 it formed a bottom and prices started gaining strength. 3. 2024 price started forming Higher Highs & Higher Lows, touched the previous 2022 ATH and currently, taking support from the 50% of the swing and also bouncing from a D tf demand. 4. It is acting as a major support zone and...
CMP - 1627 on 04.07.24 The weekly chart shows the support and resistance to the price movement. If crosses 1680 and sustains above, it may go into a bullish phase. Possible targets are 1730/1850/1900++ MACD is also showing a possible crossover. At the the time of crossing 1730, we will complete the head & shoulder pattern formation which is in progress right...
Based on my technical analysis, I foresee a bullish trend in the IT sector for the next 3-4 months. The following points outline the key reasons behind this optimistic outlook: Key Observations: Cup and Handle Pattern: A positive cup and handle pattern has formed on the weekly timeframe. This pattern is known to be a bullish continuation pattern, typically...
1. Consolidating within the trendline, soon or later a strong breakout of the trendline and ATH will be expected. It gonna take its sweet time! 2. Whenever the IT sector stats moving we can expect IT stock to start outperforming, till then it is just accumulation for the long term. - Stay tuned for further insights, updates and trade safely! - If you liked the...
BSOFT and other IT stocks are reversing for a new high. Made this chart yesterday when price was near 600. Expecting target of 800-900 in coming months. Some mid term targets are marked on the trendlines. NOTE: I'm not a SEBI REG. Study before investing.
Price Analysis & Overview: 1. Prices have taken support from the fib golden zone. 2. EMA are also supporting the trend. 3. Minimum ATH resistance level will be expected. 4. Above 720 RSI will show further strength for bullish momentum. 5. RRR is favourable. 6. Retracement based trade setup. Trade Plan: 1. ENTRY = CMP 590 2. SL = 10% 530 3. TARGET = 40%...
Overview & Observation: 1. Change in structure reversal. 2. Good volume support 3. EMA & RSI showing strength and momentum build-up. Trade Plan: 1. Early entry can be made at CMP 950 around with tight SL. 2. Very good RRR - Stay tuned for further insights, updates and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the...
After a strong hammer candle from the low, the price has formed a three soldiers pattern. Also the price has given the breakout of the LTMA band. CMP:1,431.50 R1-1,531.45 S1-1,350.90 Disclaimer : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
IT Sector witnessed strong momentum in last week Wipro took support around prev week lows & came near 480 level It may come for retesting levels, track for Bullish pattern with all confirmations Downside imp support is placed around 450 whereas upside hurde is at 495/495 zone Learn and P ractice Price Action Setups
Weekly Chart Disclaimer : This is my pre market analysis and my trading journal. Not a suggestion to buy or sell.
If Slowdown in IT sector continues, Happiest Minds may go down and take support near 530-585. Revenue Growth and OPM of Happiest Minds are continuously falling FY22 - 41% & 24% FY23 - 31% & 25% FY24 - 14% & 21% Q4(24) - 10.4% & 20% Return on Equity 5 Years: 30% 3 Years: 26% Last Year: 21% If it continues like this, It may not trade on Premium...
Now we have a strong breakdown of the compression zone. The structure indicates the start of a downtrend. The price could test the levels of 30,054 (Strong Support) which is 5-to-6% from the current level. On the up side the level of 35,188 will act as a strong resistance. Disclaimer : This is my pre market analysis and my trading journal. Not a suggestion to...
#Zen technologies looks in correction, ending diagonal has formed.
The recent change in the management of WIPRO Ltd has brought a nice 56 Inch wide smile on Veterans who've been tracking the stock. The CEO under whom, the profitability had reduced, has resigns and in exchange for him, we're finally getting someone who understands the Business and the Company. I'm anticipating good moves in the stock from CMP. Here are the...
Clear BO of CnH pattern with a retest done. Now the price must sustain above 544 for further up move to happen. SL and potential possibilities marked on the chart. Always best to trail the SL to preserve profits. --- --- --- When losses can not strip you from your well-being, you know you've matured as a trader. - Yvan Byeajee
Coforge Ltd form Inverse H&S pattern on chart, Neck line is placed near 5878 near. As per chart it is showing bullish reversal ice land pattern. It can long for target 6363+ soon