OFSS trade ideas
OFSSNote:
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OFSS Cnfirmed BreakoutOFSS has given a confirmed breakout above Rs.3400 after making us wait for a few months. It had formed a reverse head and shoulder pattern prior to that. The stock is expected to reach a target of Rs.4350 in a few months time frame (1-3 months). The counter is a slow moving one. Stop Loss at Rs.3340 on Closing Basis. Upward Target can be revised if Rs.4350 is taken out swiftly. As of now, keep targets and stop loss as suggested.
OFSS - Triangle/Pennent BreakoutAmong the lowest valued highly profitable high cash generating IT companies. A lot of its metrics except trailing growth match Infosys but its PE valuation is much much lower than Infy.
Long at CMP with a pyramiding 2nd buy above 3400.
SL Below 3175.
Technically the stock has had a short term breakout with a much larger breakout above 3400. It has also last week crossed its 200WEMA after a very long time which is another bullish indicator.