Initiating a SELL on Midcap IT stock Persistent Systems
https://in.tradingview.com/chart/n85SFcB7/
Markets have been showing lack lusture recently. Infact they have broken out of consolidation zones and started plummeting. And this fall looks serious and warrants further downfall in upcoming months.
Keeping the broader macros and valuations in mind, one can initiate a sell on IT midcap, Persistent systems, recently it tested its sub 5000 levels for the third time which appears to be a triple top formation and this week's close below 4900 will be a nail in the coffin, giving a gravestone DOJI formation.
The position can be a positional one for the month of March and positions can be made for 3 targets: 4900-4700-4300
Markets have been showing lack lusture recently. Infact they have broken out of consolidation zones and started plummeting. And this fall looks serious and warrants further downfall in upcoming months.
Keeping the broader macros and valuations in mind, one can initiate a sell on IT midcap, Persistent systems, recently it tested its sub 5000 levels for the third time which appears to be a triple top formation and this week's close below 4900 will be a nail in the coffin, giving a gravestone DOJI formation.
The position can be a positional one for the month of March and positions can be made for 3 targets: 4900-4700-4300