Cup & Handle pattern forming on 3H Chart of OFSS. BUY 3200, SL 3099.9. Target(s) - 3275, 3330, 3370. Cup Depth = 190. I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
Among 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...
If it breaks the resistance zone then you can enter
Targets are mentioned on the chart
Note: This is my view, you should do your analysis before taking any action.
Head and shoulder pattern occurred, So if breakout occurred then has huge potential and also posted very good net profits. It has very good potential to reach 4800 to 4900. Huge resistance at 5000.please use your analysis before taking trade
OFSS has given a good breakout on inverted head and shoulder pattern.
This patter is trend reversal pattern and it is ideal when it is at Bottom and previous trend is down.
Stop loss 2800
It is a Good company can hold it for long term portfolio stock.
OFFS ONE OF MY FAVOURITE STOCK IN TERMS OF FUNDAMENTAL ITS UNDERVALUED IN IT SECTORE AND I PERSONALLY HOLDING THIS SHARE, NOW CURRENTLY ITS LOOKING BULLISH GOING TO ADD FEW MORE QUANTITY. MAKE YOUR TRADE PLAN ACCRODING IF YOU WANT TO BUY CONSULT YOUR FINANCIAL ADVISIOR.
OFSS is near its long term resistance zone of 3200-3300.
It has given in intraday today to buy at 3232 and made intraday high of 3301.
If this manages to close above 3310-20, then it can scale up to 3700 & 3900 level.
Ideas published yesterday JSWENERGY & BHARTIARTL gave 9.5% & 4% move respectively.
Watch my other charts to understand simple price action used...
As we can see OFSS took multiple support near anchored vwap. also volume now.
Once this range cross it clearly gives long opportunity.
Buy above 3250 for 4000 positional target.
Oracle Financial Services Software ( OFSS ) is trending above 200 days EMA and 50 days EMA . 50 days EMA has crossed 200 days EMA from below.
Stock is having strong support near 200 days EMA and a resistance around Rs . 3427. If breaks the resistance with volume , it can reach to levels mention in the chart.
