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Nifty IT: Soaring Towards 36800 and Beyond?Wondering if the sharp rally in this sector will persist? Nifty IT displayed significant movement yesterday, continuing today with a breakout. My intuition suggests a potential move toward the 36800 level. I'll consider adding more to my portfolio if there's a retest of the breakout level, although the likelihood seems low. Nifty IT not only has the potential to reach 36800 but also to surpass it – the path ahead appears clear. Stay tuned for updates as we navigate this promising trajectory in the Nifty IT sector. #NiftyIT
NSE:CNXITLong
by iamrk7
ZENSARTECHWhat Does a Cup and Handle Pattern Tell You? American technician William J. O'Neil defined the cup and handle (C&H) pattern in his 1988 classic, How to Make Money in Stocks, adding technical requirements through a series of articles published in Investor’s Business Daily, which he founded in 1984. 1 William J. O'Neil. "How to Make Money in Stocks." McGraw-Hill Education, 2009. O'Neil included time frame measurements for each component, as well as a detailed description of the rounded lows that give the pattern its unique teacup appearance. As a stock forming this pattern tests old highs, it is likely to incur selling pressure from investors who previously bought at those levels; selling pressure is likely to make price consolidate with a tendency toward a downtrend trend for a period of four days to four weeks, before advancing higher. A cup and handle is considered a bullish continuation pattern and is used to identify buying opportunities. It is worth considering the following when detecting cup and handle patterns: Length: Generally, cups with longer and more "U" shaped bottoms provide a stronger signal. Avoid cups with sharp "V" bottoms. Depth: Ideally, the cup should not be overly deep. Avoid handles that are overly deep also, as handles should form in the top half of the cup pattern. Volume: Volume should decrease as prices decline and remain lower than average in the base of the bowl; it should then increase when the stock begins to make its move higher, back up to test the previous high. Weekly Point view Sector Point View
NSE:ZENSARTECHLong
by lokeshparihar
Bullish Flag Pattern Breakout & Pullback Pattern in Persistent.Hello Traders & Investor, I have brought another analysis on Persistent System which has given a neat and clean breakout of BULLISH FLAG PATTERN , after that price has pullback to retest the breakout zone. Now it is ready to fly in blue sky..Well Guy's i already have told earlier about this flag pattern but still i will tell you all in short here, Q:- What is a flag pattern? Rahul:- A flag is a formation in the technical chart representing a period of temporary consolidation or pause before the trend continues to move either upward or downward. I hope you have got it. So, guy's whenever you see this pattern, wait for breakout and then take entry or you can enter after retest the levels (Pullback). The risk and reward is really very favorable if you take entry after any bullish flag pattern breakout. ABOUT COMPANY:- Persistent Systems provides software engineering and strategy services to help companies implement and modernize their businesses. It has its own software and frameworks with pre-built integration and acceleration. It also has partnership with providers such as Salesforce and AWS. Market Cap ₹ 45,375 Cr. Current Price ₹ 5,899 High / Low ₹ 6,035 / 3,611 Stock P/E 45.2 Book Value ₹ 574 Dividend Yield 0.68 % ROCE 30.3 % ROE 25.3 % Face Value ₹ 10.0 Debt ₹ 555 Cr. EPS ₹ 128 PEG Ratio 1.84 Promoter holding 31.1 % Intrinsic Value ₹ 2,371 Pledged percentage 0.00 % EVEBITDA 26.6 PROS Company is expected to give good quarter Company has delivered good profit growth of 24.6% CAGR over last 5 years Company has been maintaining a healthy dividend payout of 36.6% Company's median sales growth is 17.4% of last 10 years CONS Stock is trading at 10.3 times its book value Important levels for .PERSISTENT SYSTEM LTD. Buy in between 5915-5850. Targets we can see 6370/6883+ Keep Stop loss at 5599. Price is above 200 EMA We have seen Proper Breakout of Bullish Flag Pattern in daily timeframe. with Good Volume Price is sustaining above breakout of Flag Pattern and it has given pull back to retest the levels MACD and RSI has given bullish crossover (I have not placed RSI here as i want chart neat and clean but i have analysed already) Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:PERSISTENTLong
by TraderRahulPal
Tata Elxsi has told bye bye to accumulation zone | It will fly!!Hello Traders & Investors, First of all Thankyou all of you guy's, now we are a family of 4k+ Traders & Investors. Thankyou for supporting and motivating me in the form of liking and following me. Now i have brought another stock name of Tata elxsi. It also has given breakout and after breakout it has retested the levels and now it is ready to fly in blue sky.. Now a day's all Tata Group stocks in limelight due to New IPO coming from TATA Group after 17 years, that is why some of the Tata group stocks are making new highs and giving breakouts. In Tata Elxsi we have seen there was a consolidation period for almost a year, and now it has given breakout, so there is higher chances, we can see this stock towards another previous swing highs, and this can convert in higher highs and higher lows formation. Technically and Fundamentally this is one of the gem stock, this has really futuristic business model with good and reputed management. Price is above 200-EMA, MACD also has given bullish crossover, i did not plot 21 and 50 EMA, but 21 EMA has given crossover of 50-EMA, these all are indicating a bullish momentum towards previous highs and definitely sooner or later, we will see this towards new highs. About company:- Tata Elxsi is amongst the world’s leading providers of design and technology services across industries including Automotive, Media, Communications and Healthcare. Tata Elxsi provides integrated services from research and strategy, to electronics and mechanical design, software development, validation and deployment, and is supported by a network of design studios, global development centers and offices worldwide. Market Cap ₹ 51,731 Cr. Current Price ₹ 8,307 High / Low ₹ 8,576 / 5,708 Stock P/E 65.9 Book Value ₹ 337 Dividend Yield 0.73 % ROCE 47.7 % ROE 41.1 % Face Value ₹ 10.0 Debt ₹ 237 Cr. EPS ₹ 126 PEG Ratio 2.56 Promoter holding 43.9 % Intrinsic Value ₹ 2,315 Pledged percentage 0.00 % EVEBITDA 45.8 Change in Prom Hold 0.00 % Profit Var 5Yrs 25.7 % Sales growth 5Years 17.8 % Return over 5years 53.2 % PROS:- Company has delivered good profit growth of 25.7% CAGR over last 5 years Company has a good return on equity (ROE) track record: 3 Years ROE 36.8% Company has been maintaining a healthy dividend payout of 59.8% Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:TATAELXSILong
by TraderRahulPal
Solid Breakout in Tech Mahindra after a long Accumulation PhaseHello Traders and Investors, i hope you all will be doing good. I have brought an analysis on Tech Mahindra, i hope it will be beneficial to you guy's, So let's start:- As we have seen a Neat and Clean solid Breakout of Tech Mahindra stock after a long Accumulation Phase. Do you guy's know What is an Accumulation Phase? Okay i will write what i know about it. Notable Characteristics of Accumulation Phase:- It shows that strength is building into security. The security starts trading in a well defined range, moving between the upper and the lower band of the consolidation. Market participants start becoming bullish on security in the accumulation phase. The Price starts moving in a range indicating that the price of the security is bottoming out. This phase indicates that a fight is happening between buyers and sellers and eventually, buyers take over sellers towards the end of this phase. So guy's i think this (Accumulation Phase) is clear now. So, Guy's same thing we have seen in Tech Mahindra stock also, earlier trend was Downtrend then Accumulation Phase, now as we have seen a breakout in it. So we can assume that now the trend will shift in uptrend. I have marked everything on chart like, Entry point, Targets and Stop loss. Please check chart for the levels. Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades. Dear traders, If you like my work then do not forget to hit like and follow me, and guy's let me know what do you think about this idea in comment box, i would be love to reply all of you guy's. Thankyou.
NSE:TECHMLong
by TraderRahulPal
"HCL Technology: Bullish Reversal with Inverted Head & Shoulder"Description: HCL Technologies (HCL Tech) has formed a visually striking bullish head and shoulders pattern on the price chart, indicating a potential upward trend. Traders and investors may find this setup appealing for potential trading opportunities Key Points: - Pattern Type: The pattern observed in HCL Tech's chart is a bullish head and shoulders pattern, which is a reliable trend reversal formation. - Entry Range: Consider entering the trade within the range of 1160 to 1175 for optimal risk management and potential profit capture. - Stop Loss: To safeguard against adverse price movements, set a closing basis stop loss at 1100. - Target Levels: The price targets for this bullish setup are 1360 and 1470, offering significant upside potential. Disclaimer: Please note that trading and investing involve risks, and it's essential to conduct your own analysis and consider market conditions before making any trading decisions.
NSE:HCLTECHLong
by karuneshBajpai
10
Nifty I.T. Up trend continuationIndex is respecting the rising trendline support and bouncing ever time it touches the demand zone,, bullish candle formation after small consolidation,,, MACD have given positive cross over after the retracement of last up move , indicate up trend is intact and will continue RSI have started making higher high and higher low after the retracement from 90 to 50 levels,, Till the levels of 29284 in not broken on weekly basis,, buy on dips can be used on I.T. sector,,
NSE:CNXITLong
by RUDRA007
TCS Long: Intermediate- to longer-term view of Script.NSE:TCS TCS seems bullish after more than 6 month price consolidation below 3356 now after forming double bottom pattern in daily timeframe its seems bullish for intermediate term..also prime staying above 50 SMA for month..so according this duoble bottom pattern it may go up. buy above 3400..stoploss 3245 n target 3700 for near term...risk reward around 1:1.8 * this analysis only for education purpose n dont trade according to it.consult ur financial advisor before taking any trade. am not resonsible for any risk of trade.
NSE:TCSLong
by Stockeasy