ORACLE FIN SERVICE is nearing triangle breakout

4 Sep 2022

OFSS is nearing triangle breakout
Entry : Conservative traders, wait for breakout with volume above average and then take position. For small SL, enter on strong close above 3180
Exit : When the setup is invalidated by false breakout, or strong close below the triangle's support line
Target : 4200, giving around 32% returns from current price of 3147.70. Follow trailing stoploss as IT stocks are in a continuous downtrend for long time.

Midcap IT related company with strong fundamentals & financials. Income statement is good, debt to asset ratio and PE ration are very low, contributing to the pros.
FII are constantly reducing their stake in this scrip from 2021 Mar, however the scrip rallied from 3000 to 5000 (66%) by the help of DII.

Key note : Always follow proper risk management to avoid losing capital from false breakouts as this is common.
Caution : This is a knowledge sharing analysis, not a call.