I look for strong closing strength stocks on general market weakness days. This stock fits well to my strategy.
This is a strong candidate for buying for me because of two things:
1. Strong closing in weak market
2. Price closing above all the resistance levels. Previously it was witnessing selling at these level, but today closed above them all.
Breakout above: 607
Both Horizontal & Trendline support available at current levels in NIFTY IT Index.
IT index has been outperforming NIFTY since the start of 2023.
Stocks are already setting up:
Here are some of the stocks which have been trading in tight zone which are potential candidate for upside rally:
NSE:SAKSOFT
NSE:DATAMATICS
NSE:DSSL
NSE:BBOX
After the swift rally following the covid lows, reliance gained 200% within 1.5 years.
And since then price went sideways. In past 2 years, reliance has given 0% return to those who bought at the top, or to anyone who bought in the range.
This might change in coming period, and we can finally see Reliance making proper breakout, not the fake ones its been...
