SWING IDEA - BIRLASOFT
Updated
Birlasoft, a leading IT solutions provider, presents a swing trading opportunity based on its current technical indicators.
Reasons are listed below :
Target - 680 // 733 // 845
Stoploss - weekly close below 549
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
Reasons are listed below :
- 600 Zone as a Strong Support: The 600 level has been a significant support zone for Birlasoft, acting as a key level where buyers have stepped in to support the price.
- Hammer Candle on Weekly Timeframe: The formation of a hammer candle on the weekly chart is a bullish reversal pattern, indicating that selling pressure has been absorbed and buyers are taking control.
- 0.5 Fibonacci Support: The stock is holding at the 0.5 Fibonacci retracement level, which is often a strong support level, suggesting that the stock may be poised for a rebound.
- 100 EMA Support on Weekly Timeframe: The 100-week exponential moving average is providing additional support, reinforcing the bullish sentiment and indicating a potential for upward movement.
Target - 680 // 733 // 845
Stoploss - weekly close below 549
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
Made a high of 6%++Trade closed: target reached
1st target achieved : 14%++
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