Now Get InvestmentGuruIndia.com news on WhatsApp. Click Here To Know More
BSE ITIndex – CMP 15988 “Positive Momentum ” - HDFC Securities
BSE ITIndex – CMP 15988 “Positive Momentum ”
* The daily chart of “BSE IT index” shows that it has resumed the next rising leg post minor downward retracement.
* Price has been maintaining higher tops and higher bottoms which is a bullish continuation structure .
Price has found support and has turned up from the near term key moving average of 13 Day EMA.
* KST oscillator is continuing with positive momentum and placed with a buy signal.
* In the current rising leg from 15015 levels, all dips are just minor retracements before next rises and this leg could head towards new life highs i.e. above 16300 levels .
* Trade rs can maintain mildly positive stance in IT stocks ; upside target is placed at 16290 with a stoploss of 15623 on closing basis . Stocks to watch: INFY, TCS, HEXAWARE & FSL.
To Read Complete Report & Disclaimer Click Here
HDFC Securities Limited (HSL) is a SEBI Registered Research Analyst having registration no. INH000002475
Above views are of the author and not of the website kindly read disclaimer