OFSS trade ideas
rectangle breakout?looks good on chart should be bought on correction as the current move seems over extended.
short ofssshorting opportunity in ofss ,level mentioned in chart.
(all trades are positional and SL are CBSL)
Oracle fin srv - NO BUYING ONLY SHORTINGShort oracle fin srv in the resistance zone marked between 4286-4350 / Target 3950-3775 /Stop Loss 4411
Oracle Financial Service Soln1) Breakout of 6 months bearish trend this week with large volume -- RSI also in overbought zone
2) High Delivery and OI volume in last 3 days
3) USD INR making new lows due to dollar strengthening
4) While other IT companies even Wipro made new highs, ofss has been laggard
5) 73% owned by Oracle 20% by Institutions majorly FIIs- RoE-31% but profit growth has been only 5% for last 3-4 years so stock has undermentioned
6) Revenue mix North America 38% , Europe and Middle east 31% and asia 31%
7) 80% revenue from Oracle product suites deployment primarily to banks for their customized needs - has 2700 Cr cash on balance sheet and trades at P/E 28x trailing - company has always been at premium valuation to infosys and TCS due to product nature of business and US based parent
8) Shall cross 5000 if volume sustains -- also retail float is 4-5% which should give momentum
OFSS trading near lower trendlineBuy
Reason:-
1) dogi formed
2) divergence formed
3) stock trading near lower trendline
OFSS#OFSS trading at important level 3,800 to 3,750. If stock able to hold 3,850 than you can see level of 4000-4200++ and if stock close below 3,750 than we can see 200-100 point fall.
Oracle Financial Services about to break multi-year high/ATHExpect fireworks soon in the stock with the IT sector doing very well.
OFSS - STRONG BUY - BULLISH ENQULFINGRef chart.
Added points:
1. Bullish Engulfing
2. Positive indication in RSI
3. Taken support from 200DMA
4. 6 % Short covering
Provided NIFTY is support.
Oracle Financial - A classic HnS pattern retestBuy OFSS for HnS pattern target of 5000 (pattern target is 1000)
A mid to long term target.
OFSSStock has come to a very reliable and effective support zone, should see a bounce to 4180. Stop loss 3980.
OFSS - Sign of weakness - Time to short?NSE:OFSS after a stellar rally showing some signs of weakness with RSI in over bought range
One can short it below 4055
T1 - 3891.10
T2 - 3807.80
SL - 4177.20
OFSS - High-volume Breakout from Supports ... OFSS, a relatively illiquid counter and ideal stock to have in someone's cash portfolio has finally given a clean breakout.
Erstwhile supports came in well from the 50% Fibonacci Retracement, and the recent breakout is well supported by volumes. Structurally the chart is in an UP trend across all time frames, for which i use the MACD indicator. Momentum to pick up soon for a possible re-test of its life-highs, thats close to 4000.
OFSS Short term viewWeekly MACD cut and daily MACD Crossover will helps to break the triangle. In mid term view it may reach the new higher levels.
CMP: 3557
Targets are
3780, 3807, 3920, 3994
4084, 4110, 4206, 4243
4286, 4365,, 4392, 4619
Stoploss: 3376
Vijayaraghavan,
Inditrade,Kovilpatti
OFSS 9th November Day Trade. BUY ABOVE 3680
STOP 3640
TARGET 3725-3750
9TH NOV, DAY TRADE ONLY.
USE PENDING ORDER
When 1st Target Achieved Book 60% Quantity. And Trail Your SL to Entry Price.
No Technique Can make money for you, if you don't follow disciplinary principals.
Risk Management & Position sizing is must before entering any trade.
OFSS - Symmetric Triangle break outOFSS has finally broken the symmetric triangle with decent volume.
One can go long above 3600
Target 1 - 3736
Target 2 - 3938
SL - 3448
#OFSS - Falling WedgeOFSS has formed falling wedge pattern on weekly chart & looks like this time it will finally breakout and head upwards.
