Buy NIIT TECHNOLOGIES LTD. (NSE: NIITTECH )

12 Jan

Buy NIIT TECHNOLOGIES LTD. (NSE: NIITTECH )

 

  • The stock has been trading as per the Momentum Triple Pattern theory in all time frames such as daily, weekly and monthly chart which indicates that the trend is up and the stock could further accelerate its upside movement.
  •  On a weekly chart, the stock has formed a Higher High and Higher Low pattern with increase in volume activity which signifies upward trend in the counter.
  • Moreover, the stock has given a breakout and made its all time high level which shows positivity in the counter.
  • A daily momentum indicator RSI reading is at 71.12, trending in an overbought zone which points out for a positive breath in the stock.
  • Based on above technical structure, we are expecting a good upside movement in the counter for the upcoming trading session.

 

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