Sectoral Scanner study - 25 Nov for the 48th Week 11 NovSectoral Scanner study - 25 Nov for the 48th Week 11 Nov
Technical Analysis of the Sectors in the Indian Stock Exchange.
Market doing a Bullish RD and specifically in a few sectors.
IT
Mphasis Big move to continueMphasis Can start the rise it started 2-3 months back & can break all time high till & go till 4000 levels in the coming 2-3 months.
Time wise this stock looks good for buying Kepp stop loss near 2900-3000 as per your risk appetite
Wipro moveWipro looks like ready to unleash big monthly candles from here on.. Keep stop loss near 480-90 levels for a target of 660 740 in coming few months
SWING IDEA - BIRLASOFT Birlasoft , a leading IT solutions provider, presents a swing trading opportunity based on its current technical indicators.
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
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@visionary.growth.insights
CRWD - Crowdstrike, this looks similar. Crowdstrike has been demolished in recent session on the back of poor Cybersecurity news / IT OUTAGES.
This type of sell usually gets a dead cat bounce like we saw in December of 2021.
However this decline usually proceeds more selling.
Notice how price respected each Fib level, but it did challenge and pierce each Fib level, shaking out buyers and sellers.
Im eyeing a quick bounce soon but a move lower move we complete that bounce.
HCL: To break or not to break? ️🩹Here are some pointers for HCL:
- HCL recently broke its range and the final resistance trendline.
- The breakout was quite close to a resistance zone. A bearish engulfing prompted selling, but retest and continuation potential remains.
- A retest candle with a long lower wick signifies bullish sentiment. Notice the price sustained over the trendline.
- Your support means a lot to us. Do consider boosting this Idea.
- A Sustained close above the resistance zone can pave the way for HCL's upward movement.
- Also, the Indian IT sector is approaching its critical resistance for the third time. (link in the comment section)
Caution: When the bull runs, everything seems Green. Being cautious always pays well. Remember, you will be buying the top.
Don't let the analysis end here! Boost, comment, and follow for more such insightful posts.
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
SONATA SOFTWARE - swing trade Entry - above 586
SL - 570
Tgt - 627, 661, 697
This is not a recommendation on buy/sell. Please consult your financial advisor.
TCS: Thy turkey is done? 🕒- The Age of the Indian IT sector seems to be coming back, with NASDAQ:NDX gaining new momentum.
- This week was a good one for TCS
- It finally closed above its crucial resistance zone and the 3500 Mark
- It also broke the symmetric triangle formation, paving the way for future momentum.
-The next week will be crucial as the price spikes will sink in. The sustenance of the price will be crucial.
- We may witness some pullback/consolidation. A retest and continuation will only make the move stronger.
- If the price sustains, We may see a good 4000 level.
Caution: When the bull runs, everything seems lucrative. Being cautious always pays well. Remember, you will be buying the top.
If it helped, Do Leave us a boost 🚀. What is your take on it? Feel free to comment.
Disclaimer: We are not registered advisors. The views expressed here are solely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong :)
NIFTY IT: The Next Big SectorNIFTY IT 👩💻
Chart Looks good ✅
3 Years return: 0%
Good Bounce from a Support Zone ✅
IT sector looks good for investment and positional trades ✅
We will start small and build our capital ✔️
Some Stocks from the Sector:
HCLTECH
LTIM
Index Alert:IT Index is showing a possibility of strong breakoutIT Index has given a proper closing above both 50 and 200 days EMA (Mother and Father Line) at 34023. It was threatening to do so since few days. All it needs to do for confirming upside is a proper bullish candle tomorrow and closing above important resistance levels of 34269 and 34632. If this happens the next levels of resistance for IT index will be 35337, 35731, 36591, 37690 and 38000+. This indicates a strong possibility of a Bull-Run in most Large It stocks. Mid and Small Cap It may also benefit. This may be due to possibility of a rate cut by US FED. If it does not happen the chances of rally fizzling out are also there. So cautiously investor can start picking up large cap It stocks in X/2 or X/3 or SIP Mode. On the lower side if there is no good news from US the support levels are 33947 and 33759 (50 and 200 days EMA - Mother and Father line), followed by 33391 and 32627. The bottom for It index currently as per chart can be seen at 31385. Infosys, TCS, HCL Tech, LTIM, Tech Mahindra, Wipro, Mphasis, LTTS and Coforge. Other It stocks like Mastek, Happiest Minds, Birls Soft, FSL etc. should also be on investor radar. Choose wisely and never forget stop loss in uncertain market.
Note: IT Companies happens to have my strong bias since decades. It is one of my Favorite index for investment purpose. My portfolio is quiet heavy on IT. During the recent fall, I have personally increased weightage of It in my Portfolio. Please do your own additional research and invest wisely.
AFFLE: Descending Triangle 📉😲 Okay, This one was requested by @sanketkumbhar88 :
Here is all you need to know about NSE:AFFLE :
- Affle has been in a volatile 400-point range since 2021
- Currently, It is forming a Descending Triangle formation taking exact rejections from the resistance trendline
- We have a game zone to confuse investors
- The 1000 psychological mark doesn't seem to impact the price much. That happens when a price is tested multiple times in a consolidation zone.
- On a technical note, the Price will gain momentum only when the structure is broken.
- Once the bullish break of the triangle is achieved, We may either see a good move up to the resistance zone (Post which the then price action will decide what's what) or we may continue with the sideways momentum unless the resistance zone is broken.
- Liking the analysis? How about a Boost to help us reach many likeminded investors like you :)
- On the other hand, If we see a bearish breakdown, The next immediate support is about 15% lower i.e the 730 - 760 price levels
- The price is about to test the 200 EMA
- RSI Divergence on Daily TF adds to the negatives
- MACD recently made a bearish crossover, Another negative
- Being an IT Sector company, Connecting it to the Nifty IT:
It is a wait and watch game for now.
What should we analyze next?
Have Requests, Questions, or Suggestions? DM us or comment below.👇
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
NIFTY IT | Updated Price Action- Here is an update to the Nifty IT analysis we posted back in 2022.
- The price action is pretty sluggish. Literally "Trading in the Zone" ( Get it? If not you need to read that book " Trading in the Zone by Douglas" It will teach you the psychology aspect of trading)
- We will keep updating the price action as it unfolds.
- In the meantime, look at how NDX has performed post our analysis.
What are your thoughts? Feel free to comment. If it helped, Do Leave us a boost 🚀
Disclaimer: We are not registered advisors. The views expressed here are solely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. We like everybody else, have the right to be wrong :)
LTTS: Beautiful Breakout But ...The chart should give you everything you need to know. But here are some pointers for those who like to read:
- A beautiful Symmetric Triangle breakout. The support and resistance trendlines were religiously followed. Thus, making the pattern stronger.
- The consolidation period was a good 15 months. Every IT company has gone through the pain.
- We have defined support and resistance zones. The triangle breakout is good but is exactly near the Crucial resistance zone.
- A break and sustenance of it will be crucial for the future upmove.
- We have a 5000 psychological level sitting on the top as our first target
- Nifty IT is also gearing up for some long-due momentum. This should give a push.
What should we analyze next??
Have Requests, Questions, or Suggestions? Let us know in the comments below.👇
While you do that, how about a boost for some motivation🚀
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
CCLD CareCloud an IT/AI pennystock rising LONGCCLD is shown on a daily chart with the only indicator being a volume profile. Horizontal lines
are drawn from some prominent pivots. As a microcap CCLD has more volatility than the big
name IT/AI stock. It also has upside as it is currently priced at 15% of the all time highs in 2021.
The initial target is 3.5 based on the low volume consolidations of the whole year of 2019
and May 22 to May 23. A higher target is 7.0 which corresponds to a volume void to be filled.
This is a risky but potentially highly rewarding long trade. Buying when price has risen from
extremely oversold into the high volume area of the long-ranged volume profile helps diminish
that risk.
25 percent in 66 days expected roi in ltim basis results LTIMindtree Ltd., incorporated in the year 1996, is a Large Cap company (having a market cap of Rs 140,107.49 Crore) operating in IT Software sector.
LTIMindtree Ltd. key Products/Revenue Segments include Software Development Charges & Other Services for the year ending 31-Mar-2023.
For the quarter ended 31-03-2024, the company has reported a Consolidated Total Income of Rs 9,100.50 Crore, down 1.47 % from last quarter Total Income of Rs 9,236.10 Crore and up 3.92 % from last year same quarter Total Income of Rs 8,757.40 Crore. Company has reported net profit after tax of Rs 1,100.70 Crore in latest quarter.
The company’s top management includes Mr.A M Naik, Mr.S N Subrahmanyan, Mr.Debashis Chatterjee, Mr.Nachiket Deshpande, Mr.Sudhir Chaturvedi, Mr.R Shankar Raman, Mrs.Apurva Purohit, Mr.Bijou Kurien, Mr.Chandrasekaran Ramakrishnan, Mr.James Abraham, Mr.Rajnish Kumar, Mr.Sanjeev Aga, Mr.Vinayak Chatterjee, Mr.Vinit Ajit Teredesai, Mr.Tridib Barat. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2024, the company has a total of 29.62 Crore shares outstanding.
my target 5999
stop loss 4777
for more shares wsup on 8459 22 02 02
happy investing
16% in 60 days do it or leave it Bsoft on long ace in spot 611
📊 BSOFT Overview Birlasoft Ltd. is a subsidiary of the CK Birla Group and provides IT services such as application development, maintenance, and infrastructure management. They have a global presence with offices in India, the United States, Europe, and Asia-Pacific. source
💻 BSOFT Services Birlasoft offers a wide range of IT services, including digital transformation, cloud computing, data analytics, and cybersecurity. They cater to various industries, including banking, financial services, insurance, healthcare, and manufacturing. source
its long on cmp 611 inr for 703 price in coming days
for more comment below
Is this correct? What I've marked.If Wipro breaks 465 and sustains then 527 will be the target. We can accumulate it till 440 and with a stop loss of 425 and a target of 527 is it a good fit and is it correct what I've done.
Or wait for it to retest 465 and then only enter.
Thanks for feedback in advance.
Mukund
upcoming boom in IT sector will lead much more to this stockIT sector started its journey and the stock which will give highest return with the rally is here.
CrowdStrike going up!A bit unusual for me to try and make a idea about a specific stock, but here goes!
Crowdstrike has always been a darling for me and I have been in-and-out of the stock a couple of times, but this time im in it for the long run!
Clear upwards trend, with a nice couple of close support/resistance levels.
The current one we are at now from 168-169. Should go higher, based on their incredible earnings.
TP 1 - just above the 180-level, should be reached start-mid November and should hold that support.
TP 2 and 3 will be commented later!
Follow and keep track of the stock!
Good luck!
SUBEX, 1DSubex has given good breakout on both long and short time frame.
Good base formation at 30-32 level. stock can move towards 39 and 40.
If it sustains can go further towards 50-60.
Volumes are building and something good can be announced soon.
Company has lot of sectors including AI, Blockchain, security, tele communiction.
One should visit company site to understand more about company dynamics
It is only for education purpose not a recommendation.
TECH M! Retest and Continuation?? Tech Mahindra has been consolidating for quite a while now. just as with any other cream IT Company, looks like it's gearing up for some momentum.
It formed a beautiful symmetric triangle breakout and is now in a retest mode. A continuation of that breakout can trigger some good momentum.
Also, check out our opinion on the overall IT Sector.
What do you think??
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