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BIRLASOFT LIMITEDBIRLASOFT LIMITEDBIRLASOFT LIMITED

BIRLASOFT LIMITED

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BSOFT trade ideas

Bsoft (Looks Ready for 690, 720)Bsoft will be giving a range breakout tomorrow if it closes above 654. Also, it might cross 50 EMA and 200 SMA level (655). Closing above 654 tomorrow, we shall see 690 level initially, and then 720. Stop loss can be placed at the low of tomorrow's closing candle (Friday, 7th June). Disclaimer: I am not a SEBI registered analyst. All the stocks are for educational purposes. Investors must consult a financial advisor before making any investment. It is not a buy or sell recommendation.
NSE:BSOFTLong
by onkarsoundankar
2
BIRLASOFT INDIA ANALYSIS 24 MAY 24 BIRLASOFT INDIA ANALYSIS 24 MAY 24 Bullish Pattern : Broadening wedge INVESTMENT TYPE : SHORT TERM (3-12 MONTHS) ROI % : 35%-57% Cmp: 616 i believe that this stock will follow two paths to reach price level of 861.15 paths and levels you can check in chart. the stock had traveled from 249.50 to 856.00 and it gave 258% to investors , bull rally is exhausted now peoples are doing profit booking . wait for price to come down till 495-564 entry zone . this analysis is for educational purpose only .
NSE:BSOFTLong
by believe_in_your_dreams2517
2
BSOFT - TREND CHANGED ?Symbol - BSOFT Birlasoft is engaged in Computer programming, consultancy, and related activities. It provides software development and IT consulting to its customers predominantly in Banking, Financial Services, and Insurance, Life Sciences and Services, Energy Resources and Utilities, and Manufacturing. The Company’s registered office is in Pune. It is part of The CK Birla Group, Birlasoft, comprising over 10,000 plus professionals. This stock has given great returns to investors as well as traders in last 1 year. This stock was buy on dips since May 2023 but right now as per technical chart & price action, I think trend is changed from buy on dips to sell on rise as there exists clear Head & Shoulders pattern on larger time frame. I have made short positions in futures already around 690 level & will find opportunity to sell it on each rise until it breaks 730-735 levels which is H&S neckline. So, My SL is placed above 735. Targets I'm expecting on downside will be 575 - 560 - 535. P.S. : Swap markets are now pricing in just one Fed rate cut in 2024. The Fed will keep the rate unchanged at its May 1 meeting. Powell is expected to tighten rhetoric and signal that there will be fewer rate cuts this year than previously expected. If this happens, This will result in strong profit booking in IT stocks specially mid and small caps. Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!
NSE:BSOFTShort
by akshit_official
2
BSOFT - Long Setup, Move is ON..NSE:BSOFT ✅ #BSOFT trading above Resistance of 790 ✅ Next Resistance is at 974 Related charts: Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined. Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
NSE:BSOFTLong
by Sandeep_Aggarwal
Birlasoft - Rounding bottom breakoutRounding Bottom is a reversal chart pattern. This pattern is an indication of the end of the downtrend and the potential beginning of an uptrend. Price and volume are considered key indicators for identifying and confirming this pattern. The rounding bottom pattern can last for any time frame including days, weeks, months, or years with longer time frames. Generally, this pattern is an indication of a bullish future for the assets traded. This pattern has a relatively high success rate. However, it is rarely found. This pattern resembles the double top or triple top price pattern. The cup and handle chart pattern is one of the variations of this pattern. The main difference between both the patterns is a bearish pullback at the neckline in the cup and handle chart pattern. How does a rounding bottom work? The market behaviour behind the formation of rounding bottom pattern is inverse to that of rounding top pattern. During the beginning of the formation of this pattern, the stock price continues to fall. The reason is the lack of buyers for the stock in the market. As the price falls, traders start showing interest. This reduces the pace of price decline. The price, then, stabilizes for a time as more buyers start showing their interest. With the increased rate of buying, the stock price starts increasing. The buyer’s willingness to pay a higher price for the stock tends to start the uptrend. This results in the formation of a rounded shape that looks similar to ‘U’. How to trade the rounded bottom? To trade with a rounding top pattern, you need to be patient as it can take quite a long time to develop. This pattern is said to develop when the decreasing price trend stabilizes for some time, and then begins to increase. This confirmation is strengthened when the volume traded is higher on the decrease, flat on stable price, and increasing on the price. Once the pattern is confirmed, the next step is to draw a neckline. A neckline is a line connecting swings in a pattern. After a point where the stock price crosses through the neckline, the traders can think of booking a long position. Some traders also set stop-loss limits while going long. Once the price hits the target, traders look to exit their position. In a summary, the rounding bottom pattern is formed when the price of security decreases to a new low, then moves horizontally and finally, increases. Thus, it takes the shape of a rounding bottom. If identified correctly, this rounding bottom pattern can safeguard traders from selling in a potentially unfavourable market. In fact, it helps the traders to take advantage of huge profits. Birlasoft has formed a rounding bottom pattern, and next target can be 889 Kepp stop loss as 666 on day close basis
NSE:BSOFTLong
by yogesharora2409