Hi Traders / Investors ,
Probably there can be a bearish momentum in Hinduja Global Sol because of following reasons :-
1) Formation of Head and Shoulders Chart Pattern , which is mainly considered Bearish in nature.
2) It gave breakout below neckline of pattern and is retested.
3) It can fall maximum upto 32 % , as it also has a support at 2000 price level ,where...
1.) Trading at all time high with big volumes.
2.) Supported by Ascending triangle breakout.
3.) Support near 1800-1850
4.) Target -2300-2500
5.) Stop loss - 1600(daily closing)
Only for educational Purpose
HGS is expected to give breakout of the consolidation, Entry can be Above 1705-1707 with the SL below 1683.95 for the target of 1747-1749. The stock is consolidation in that range from last two weeks, Closing above 1700 can lead upto 1845
Hinduja Global Solutions Ltd. engages in the provision of outsourcing solutions. It focuses on business process management. The company was founded on January 13, 1995 and is headquartered in Bangalore, India.