PERSISTENT has given Inverted head and shoulder pattern break down which is sign of trend reversal at the top of the up trend.
Short target of 4450-4440 zone may be seen in coming days.
SL: Hrly candle close above 4770 levels.
Note: Avoid longs unless stock moves above 4950 levels.
Technically speaking, Persistent System has been in an upward channel for some time now so two types of trades can be initiated here: one is buying the stock when it closes above 5000 with stop loss at 4900 and targets at 5250-5400-5500. However, this should only be done if there’s confirmation from volume as well as closing filter applied for 2 bars closing...
According to the Chart the uptrend has broke, if it continues to fall it will reach the specified position, lets see what will happen ( My trading journal)
in.tradingview.com
Markets have been showing lack lusture recently. Infact they have broken out of consolidation zones and started plummeting. And this fall looks serious and warrants further downfall in upcoming months.
Keeping the broader macros and valuations in mind, one can initiate a sell on IT midcap, Persistent systems, recently it tested its sub 5000...
Key Points:
- On daily chart strong Bullish breakout momentum seen with potential to rise from closing price of Rs. 4968
- 52 Week Resistance breakout @ 2873
- RSI near about 70
- Tech showing buy signals
- Price is above 20,50,200 EMA
Bhav is “ Bhagwan ”
Disclaimer :
I am not a SEBI registered Analyst.
Please do your own Analysis before taking any...
Those who study charts on regular basis, would be familiar that when a stock price breaks its ATH level on a higher Time frame, in majority of cases, it goes much above that level. Similar is the setup in this stock which has been in uptrend for quite long and has shown strength even during market correction recently.
The analysis is done on Daily TF hence price...
IT sectors strong player persistent system is at all time time high ,not its time for decision if you alredy in should you exit ?or if you think to in is it right time?
this all things we are going to discuss here,
slightly my view is strong on stock with strict with 120 SL.
for 1-2 month horizon ,
because its 3 rd time stock is going to touch same level again if...
After a long correction, a good rally is on.
The expected price level is shown in the chart.
Another correction may be there at 4742.
Presently is in a triangle Break Out.
Note: Information given here is for study purpose and not intent for a trade.
PERSISTENT:- Ascending triangle pattern has formed and the stock is trading in a small range near the resistance, it may give downside movement, wait for proper entry, till then keep an eye on the stock.
Hello traders,
As always, simple and neat charts so everyone can understand and not make it too complicated.
rest details mentioned in the chart.
will be...
It has formed a text book double bottom pattern with good momentum and volumes. IT sector is looking bullish in coming months. However it will be weak below 3750. Disclaimer: Educational post and not a buy/sell recommendation. Please do your own studies.
Education purpose - Price action analysis
PS is approaching an important resistance zone of 4700,
if it crosses the same on a weekly or monthly basis then the next target is 5000.
SL 4330
It is the strongest stock in IT Pack.
Good Opportunity to accumulate the stock now
1. Relative Strength in Good Shape
2. Avg RSI above 60
3. Good Institutional buying with increasing volume week by week
5. EPS and Sales also good
6. Breaking base with Handle
NSE:PERSISTENT
