NIIT LTD on a daily time frame is currently forming a bullish flag pattern. Upon drawing Fibonacci retracement, the chart also took retracement from 0.5s levels which is a healthy sign in itself. The stock looks good above the levels of 441.
NIIT as per daily chart pattern analysis the stock has a resistance at 436 level and once it breaks then 456 level is the target. It has support at 407 and 367 level.However one can see a fresh buying opportunity only after full correction completed.
buy above 437 in Intraday
For stoploss in Intraday use 5 minute chart and see nearest support.
for target use 5 min chart and fibonacci pivots as i don't keep predefined target.
try to book partially and trail.
Note: this is not a prediction for LONG/SHORT, trade will trigger only on given level as per technical analysis
NOTE: For Gapup or bo before 9:20
If...
The stock in continuously upward trend and price reversals from support level & moving average.
Entry level will be Rs 352 and target & stop loss as per price action or pivot points.
Thanks
NIIT took support after falling for 5 days!
Strong demand at 280-290 levels!
Stoploss and Targets are mentioned in the charts.
Please do your own analysis before making any decisions and also let me know if I missed something.
Let's learn together.
Stock Name - NIIT
NIIT is a leading Skills and Talent Development Corporation that is building a manpower pool for global industry requirements. The company was established in 1981 to help the nascent IT industry overcome its human resource challenges.
Technicals - On two hours chart, the stock is trading in narrow ranges and forming a descending triangle.....
NIIT has been trading in a parallel channel and is expected to continue the trend.
Chart is pretty self explanatory.
MACD seems bullish
RSI in perfect position after bounce from 50 level
EMA looking up
Upside movement is expected here
This is not a financial advice. Please consult your Financial advisor before taking a position.
Thank You :)
buy above 320 For stoploss in Intraday use 5 minute chart and see nearest support. for target use 5 min chart and fibonacci pivots as i don't keep predefined target. try to book partially and trail.
