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NIITTECH

More consolidation before BreakoutNIIT has completed the Flat pattern ABC. The recent up move seems to be in a consolidation phase. Once the consolidation to the downside is finished, the next move could continue to be up wards and it will most likely make a higher high. I wont suggest buying yet nor shorting it either but I would definitely like to wait patiently till the consolidation is done and gives a sustained breakout- to make any decision. *** There's a fractal shown in the chart that gives us an idea about the price behavior once a pattern is complete.
NSE:NIITLTDLong
by Divergensity
NIIT Technologies - Forming Inverted Cup & Handle patternCup & Handle Pattern being formed on daily chart of NIIT Tech, currently trading around support line, if breaks & sustain below support line of 1060 then we can expect sustained down trend for coming weeks, once it confirms of breakdown below 1060 then one can expect it to fall another 10-15% in 2-3 weeks and 30-35% over the next few months, Must trail sl at 100 Day Moving average on closing basis post breakdown. On other side if it gives any bounce back before the breakdown then also one can go short around 1170-1190 with sl around recent high of 1240.
NShort
by KunalJain