12-01-2021 12:05 PM | Source: ICICI Direct
Stock Picks - Buy Birlasoft Ltd For Target Rs.522 - ICICI Direct
News By Tags | #5785 #3961 #409 #3050

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Technical Observations

* The share price of Birlasoft is seen rebounding after taking support at the recent breakout area and the rising 20 days EMA (currently placed at | 455) signaling resumption of up move and fresh entry opportunity..

* The stock has recently registered a breakout above five months consolidation range (| 457-393) with strong volume signaling positive price structure.

* Going ahead we expect the stock to maintain positive bias head higher towards | 522 levels being the 123.6% external retracement of the entire previous decline (|514-447)

* Among the oscillators the daily MACD is in rising trajectory thus validates positive bias.

Buy Birlasoft Ltd @ 480.00-488.00 TGT 522 SL 463

 

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