IT stock with sound fundamentals available at fair valuation with multibagger potential in long term.
Downside continuation exists as price is moving inside a falling wedge pattern as ending diagonal with declining volume.
IT index is about to fall further which will also drag it's price lower.
Expecting the price to find strong support around 220 level as it is in confluence with key support, Fib level and trendline support.
Good to accumulate around 210-230 levels for the following targets:
Medium term swing target @ 415 (88% ROI with 6.5 R:R) Duration < 1 year
Long term swing target @ 565 (157% ROI with 11.5 R:R) Duration > 1 year
Long term positional target @ 900 (309% ROI with 22.6 R:R) Duration > 1 year
Very long term positional target @ 1400 (536% ROI with 39.3 R:R) Duration > 2.5 years
Stop loss below 190 (optional)
Do your own due diligence before taking any action.
Peace!!
Downside continuation exists as price is moving inside a falling wedge pattern as ending diagonal with declining volume.
IT index is about to fall further which will also drag it's price lower.
Expecting the price to find strong support around 220 level as it is in confluence with key support, Fib level and trendline support.
Good to accumulate around 210-230 levels for the following targets:
Medium term swing target @ 415 (88% ROI with 6.5 R:R) Duration < 1 year
Long term swing target @ 565 (157% ROI with 11.5 R:R) Duration > 1 year
Long term positional target @ 900 (309% ROI with 22.6 R:R) Duration > 1 year
Very long term positional target @ 1400 (536% ROI with 39.3 R:R) Duration > 2.5 years
Stop loss below 190 (optional)
Do your own due diligence before taking any action.
Peace!!