BSOFT trade ideas
BIRLASOFT || Uptrend Support + Support Zone || 10% move expected1. We started with Daily chart to find the bias (buy/sell) & we found it is an uptrend move with price at trendline.
2. We changed to 4H and 2H chart frame to check any king of buyer's entry or green candle forming. (Able to spot 2 green candles)
3. We changed back to Hourly and later 30 Min chart to mark the key zones in short-term basis.
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The company is fundamentally strong and hence a long position will be a good side.
Even though I feel that the trend line will break but the charts are showing me a different picture. Hence one should always trade what they see and not what they feel.
No matter if this trade will be a positive or not , I promise to keep my loss small & profit trailing or running till the time I can.
Thanks! Don't forget to hit that like button and comment your doubts.
Watchout for Resistance breakoutThe stock is trading in a range for last 2 weeks and has made a triple bottom. It can give a good upmove above 265 level.
Swing Trade: triangle breakout done ready for range bo above 220will buy above 203 though it will be safe above 220.
but here Sl will be small which is 192 DCB
Target 220 and if crosses than 245, 255
Double Bottom patternThe stock gave Trendline BO today and is forming a double bottom pattern. Looks good above 264 level
BSOFT - RectangleRectangle forming on Hourly Chart of BIRLASOFT. BUY 276.10. Good Volumes. Consodilating as of now. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
BSOFT Breaking Out of the Medium Term Consolidation ZoneBSOFT Has been staying in the 170-210 Zone for Some weeks now ,
every attempt of breakout for met by supply zone and the price has gone back to zone
For long term the Stock looks good above 230 with SL of 210 .
Birlasoft trying to breakoutAfter a consolidation of 51 days, Birlasoft is trying to breakout of its base with good volume. Buy only when it goes above Rs. 211.
BSOFT CUP & Handle BreakoutBSOFT has formed a cup & handle format, it tried to breakout 208-210, 52W High with good volume, but at the day end it closed just below breakout level, it has gained 10% intraday basis. opening flat on next trading session will give good positional. it is likely go up for 240-250 levels
In the recent consolidation it has re-tested previous 52W high, which is at 173 level
BSOFT Analysis 10 Dec 2020ATH BO excepted soon.
RSI is also getting ready
Up Vol more than Down on Green Days.
BIRLASOFTbirlasoft are very bullish because break 199 level & sustain above 199
with stoploss 191
target-220
MACD & RSI are also positive
BSOFT200 Level is good resistance for the stock from it has been rejected 3 time before. Now it seems stock may broke out 200 level very soon. A small position can be added near 194 level and further it can be added above 200. SL can be kept at 182 level.
A shakeout of weak holders is expected.
