Trade Idea for Birlasoft Ltd (NSE: BSOFT):
Current Price: ₹579.50
Support Level: ₹561.80
Target Level: ₹1,048.00
Analysis:
The weekly chart shows that Birlasoft is currently at a key support level near ₹561.80, which has acted as a strong base historically.
The RSI is in a neutral zone but holding above the 40 level, indicating that the stock is not in oversold territory, which is supportive for a reversal play.
The trend indicators are hinting at potential bullish momentum as the stock is holding above critical support.
Trade Plan:
Entry: Consider entering around ₹570-580 if the support holds and there is a bullish confirmation.
Stop Loss: ₹550 (below support to manage risk).
Target: ₹1,048 (based on the previous high and projected price action if the reversal materializes).
Risk/Reward Ratio: Approximately 4:1, making this a favorable setup if the support holds and the momentum builds.
Disclaimer: Monitor the trade closely and adjust the stop loss or target based on market conditions.
Current Price: ₹579.50
Support Level: ₹561.80
Target Level: ₹1,048.00
Analysis:
The weekly chart shows that Birlasoft is currently at a key support level near ₹561.80, which has acted as a strong base historically.
The RSI is in a neutral zone but holding above the 40 level, indicating that the stock is not in oversold territory, which is supportive for a reversal play.
The trend indicators are hinting at potential bullish momentum as the stock is holding above critical support.
Trade Plan:
Entry: Consider entering around ₹570-580 if the support holds and there is a bullish confirmation.
Stop Loss: ₹550 (below support to manage risk).
Target: ₹1,048 (based on the previous high and projected price action if the reversal materializes).
Risk/Reward Ratio: Approximately 4:1, making this a favorable setup if the support holds and the momentum builds.
Disclaimer: Monitor the trade closely and adjust the stop loss or target based on market conditions.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.