People Invest in ITC and other PSU for dividend and whatever dream of growth they see in those stocks !!
Here is OFSS.. U cant get better fundamentals than this Stock..
According to me , this is the cheapest IT stock available in the market and a safe bet !!!
DIVIDEND YEILD - 5.5% at CMP !!! what else do u want ? rather than making a mutual fund SIP or doing FD...
on DTF the company is forming a cup and handle pattern and taking resistance from 3600 levels.
This level has been tested multiple times now. So any close above this 3600 level can move the stock to further 4k levels.
On a weekly timeframe, this shows an inverted H&S pattern, which is a bullish pattern.
DISC: For educational purposes only.
1) Breakout of 6 months bearish trend this week with large volume -- RSI also in overbought zone
2) High Delivery and OI volume in last 3 days
3) USD INR making new lows due to dollar strengthening
4) While other IT companies even Wipro made new highs, ofss has been laggard
5) 73% owned by Oracle 20% by Institutions majorly FIIs- RoE-31% but profit growth has...
Weekly MACD cut and daily MACD Crossover will helps to break the triangle. In mid term view it may reach the new higher levels.
3780, 3807, 3920, 3994
4084, 4110, 4206, 4243
4286, 4365,, 4392, 4619