Zensar Technologies, a global IT services provider specializing in digital transformation and technology solutions, is showing strong technical signals for a potential swing trade.
Reasons are listed below :
Target - 725 // 850
Stoploss - weekly close below 535
Disclaimer :
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
Reasons are listed below :
- Head and Shoulder Pattern: This classic reversal pattern indicates a potential shift in trend direction. A completed pattern and subsequent breakout could signify a bullish move.
- Breakthrough of Resistance Zone: The 500-550 zone, a previously challenging resistance area, has been decisively broken, suggesting a sustained upward trajectory.
- Bullish Engulfing Candle on Weekly Timeframe: This formation, where a larger bullish candle completely envelops a smaller bearish one, indicates a strong shift toward upward momentum.
- Breaking a Long Consolidation Phase: Zensar Tech has broken out of a 2.5+ year consolidation, suggesting a new bullish phase and increased market confidence.
- Spike in Volumes: A significant increase in trading volume often confirms the strength of a breakout, indicating high investor interest and support.
- 0.618 Fibonacci Support: This Fibonacci retracement level acts as a strong support, reinforcing the potential for continued upward movement.
- Higher Highs Formation: This pattern suggests a consistent uptrend, with each high being higher than the previous one.
- Trading at All-Time High: Although this is generally bullish, it's essential to monitor for signs of overextension or potential pullbacks.
Target - 725 // 850
Stoploss - weekly close below 535
Disclaimer :
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights