"This is my trading journal, not a trade recommendation. I Will be Posting and updating the ideas regularly, as market progresses, only for educational purposes for me and others who want to benifit from my experince.
Trading in the stocks market or futures markets is on e of the riskiest forms of investments available in the financial markets and...
1. Downward trendline since IPO broken
2. Volumes increase post trendline break
3. Double bottom made near 310
4. IT sector started move in anticipation of good quarterly results.
Buy on dips near 340-335 zone..
Target1: 365 => RR 1:2
Target2: 400 => RR 1:3
Stoploss: 320/310 (based on risk profile)
HappiestMinds has been one of the solid fundamental Small cap IT company which is poised to grow in the future. It failed to mark new highs post IPO due to its high PE valuations. After it consolidated for a few days forming a wedge pattern, it has given a good breakout. Target 1 will be the previous high and leave the rest for investment.
Happies Mind Technologies has formed Strong Support at 311 & Strong Resistance at 350
The Script has formed Triangle pattern and if the script closes at daily chart above 332 go for Long
Entry - Above 332
SL - 321.35
Target - 350.00
Disclaimer: Kindly do your own analysis before executing the trade.