SWING IDEA - BIRLASOFT
Updated
Birlasoft, a leading global IT services company, is showing technical signals that suggest a promising swing trading opportunity.
Reasons are listed below :
Target - 790 // 855
Stoploss - Daily close below 670
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Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- 720 Resistance Zone Breakout: The 720 level has been a significant resistance zone, and the price has recently broken out above this level decisively, indicating strong bullish momentum.
- Bullish Engulfing Candle on Daily Timeframe: The formation of a bullish engulfing candle on the daily chart indicates strong buying pressure and further supports the bullish case.
- Price Action Above 50 EMA: The stock is trading above the 50-day exponential moving average (EMA), reinforcing the overall bullish sentiment and providing a strong support level.
- Volume Spike: A noticeable increase in trading volumes confirms the strength of the price move and indicates growing investor interest.
Target - 790 // 855
Stoploss - Daily close below 670
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Note
bullish engulfing candle , HOLD!Note
price is holding onto the support zoneNote
bullish engulfing candle , hold!Note
near SL, cautious!Trade closed: stop reached
stoploss hit : -12%
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