Stock Name - Newgen Software Technologies Ltd
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 624
#This is not Buy and Sell recommendation to any one. This is...
MACD positive
RSI > 60
Volumes Rising
Bullish C
Crossover (20 EMA crossed 200 EMA) and currently trading above 20 EMA and closing with strong Green Candle
Support 429
Resistance 580 / 670
a beautiful trade u can take. if u r a long term investor now is the time to enter as there are some institutions who have entered u can see the volumes.
Retested support level, long standing trendline since March 2020 intact, Resistance line can be broken in few weeks.
Buy at 570 level for upside till 630 i.e. 10% in parallel channel.
Stoploss below latest mother candle on 25 Jan at 550 i.e. 5%
Risk Reward Ratio 2:1
Can hold for larger gains as well since Q3 performance was good but stock did not move much.
After long consolidation NEWGEN make a super breakout with good volume.. Possible target in short term 25-40% from current level with 10% SL... Size your position accordingly.
Newgen software is moving in a range for a long time, the box pattern break will give it a bull run. Volume of 7th Jan gave a sudden spike, keep an watch on closing above 645 (DCB)
Newgen soft is in a range of consolidation for last 5 months, a good breakout above 645 with volumes will give a long entry.
Relative strength is above 0 and we will wait for the value to come above 0.10 for more strength
RSI is bullish above 60 in daily time frame
This stock has been consolidated for two months long period in a very narrow range, recently it gave a fake breakdown and again bounced back towards resistance area, along with rsi positive breakout above 60, and macd positive crossover, if it breakouts resistance zone above 644.50 then it can make up move direction towards north, towards 750 range. after...
Note:
1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR.
2. Always remember SL is your lifeline, not the big target...
3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns...
3. Views given here is not a tip rather it is for educational purpose... Aftermarket...
1. Today we'll discuss another company which is NEWGEN SOFTWARE
2. Today Date is 08-09-2021.
3. Currently stock is trading at 595.45 which is shown in candle chart.
4. There is short term target which is 595.45 to 656 which is shown in image above, which is approximately 10% gain. Stock is trading in range.
5. How much time it takes to reach...
