Persistent CMP 8432
Fib- again the dip to 38.2% from a higher zone is tremendous strength. Its first major resistance is at 11100 and then 13K both are confluence zones.
On the 4hr chart all the three Ma's are about to merge. Hence its at am imp zone. A close above the trendline on the 4Hr chart will mean the stock is ready to shoot.
Scrip is in the day uptrend channel brekaout from the previous month resistance of 8821 and day bullish closing with last one hour bullish with buying mode. if it sustains above the resistance of 8821 then it will reach the short term target of 9074 and if it sustains above the pivot level of 9074 then reach the second target of 9774
The chart is self-explanatory and shared for educational purposes.
1. Moving Averages (MA): PERSISTENT SYSTEM stock is trading above the 50, 150, and 200-day moving averages. This is often considered a bullish signal, indicating that the stock is in an uptrend.
2. Trendline Support: The stock has strong trendline support & accelerated trendline, suggesting that...
PERSISTENT System Buy for 35% Gaining, showing Double Bottom Formation
wait for weekly closing above level
CMP : 5060
TGT : 6790
SL : 4700
Disclaimer : It is my personal view as a trader and for educational purpose only. Equity market involves risk. Please consult your financial adviser before taking any decision.
The following trading idea shared is for informational purposes only and should not be considered as financial advice or a recommendation to buy, sell, or hold any particular stock.
Swing Trade opportunity in PERSISTENT.
Buy Range - 4714 - 4624
Sell Range - 5056 - 5100
on 75 min chart.. good consolidation visible.. it is already in uptrend..
it can give another BO..
lets see how the hypothesis is played...
Target 7500/-
A decent correction is forming up which is likely to be completed within few weeks which should go further up in coming weeks.
It's a positional and long term trade.
It's just an idea trade with a proper risk (your own risk)
