OFSS is currently forming a cup pattern on the weekly timeframe, indicating a potential upward trajectory, as shown by the yellow cup on the chart. Additionally, it has the possibility of forming a handle in the future, which could lead to a breakout from there.
Stock to keep in your watchlist for swing trade.
Stock:: OFSS
CMP :: 3870
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DESCLAIMER = STOCK ANALYSIS POSTED HERE IS FOR EDUCATIONAL PURPOSES.
In the Weekly Chart of OFSS ,
we can see that; it has given breakout from Inverted Head & Shoulder.
Let it retest.
Expected momentum is shown in chart.
OFSS closing 3236.5 with stoploss 3162 then targest are 3310-3380-3450.
Buying Reason.
1 --> Price can move above all ema.
2 --> Price close above 20 #EMA.
3 --> #RSI is cross 60 level.
4 --> #ADX is show the #Bullish move and +DMI is rise.
5 --> #Volume is also show the Breakout.
6 --> #Bollinger #Bands are also open in Positive side.
OFSS Long - Oracle
Rounding bottom pattern formation.
Seeing momentum for upmove. If high volume, can give good returns
Levels in blue line of chart.
No recommendations, just view.
OFSS has made a perfect formation for a good breakout for the next few days.
Curve formation, also it has tested its resistance with good volumes.
Curved trendlines also show a breakout.
NSE:OFSS
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial...
#OFSS setting up nicely after bottoming out close to 2900 in October
IC-MC breakout happened at 3055 followed by retest for 2 weeks and follow-up buying during the week starting 29-Nov-22
#candleshunting upto 3400 on weekly charts possible.
