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Technical Observations

* The stock has generated a resolute breakout above a bullish Flag pattern signalling continuation of the up move and offers fresh entry opportunity

* We expect the stock to continue with its strong up move and head towards | 319 levels in the coming weeks being the 123.6% external retracement of its recent breather (| 307-257) placed at | 319 levels

* The stock has recently during first week of June 2021 has registered a major six months range breakout (| 210-136) signalling a structural turnaround

* The stock has immediate support at | 271 levels being the 61.8% retracement of its current up move (| 257-293)

* Among the oscillators the daily 14 periods RSI has recently generated a buy signal moving above its nine periods average thus validates positive bias

Buy NIIT Ltd @ 285.00-293.00 TGT 319.00 SL 271.00

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