Happiest Minds: Happy days are here again? 🤩
Hello There, Welcome back! đź‘‹
Here is all you need to know about Happiest Minds:
• The stock price has been range-bound in a downward Wedge pattern for over 14 months.
• An attempt to break the pattern resulted in a long upper-wick candle, suggesting sellers' presence.
• A subsequent inside candle gave a weak breakout, after which the price has been consolidating/retesting.
• The psychological level of 1000 has acted as a strong resistance.
• Despite crossing the 1000 level weekly for the past 3 weeks, the price has failed to close above it.
• A close and sustenance over the 1030 level would be absolutely necessary for it to continue its upward momentum
• The next immediate resistance seems to be around 1175.
• Another important thing to note is that it recently raised 500 Crs via QIP @ 924/Share. That is what triggered the 6% fall a day ago.
• Help us reach many like-minded investors like You! Would you give us a Boost for motivation?
• Investors included Troo Capital, Société Générale, BNP Paribas Arbitrage ODI, BofA Securities Europe SA -ODI and Morgan Stanley Asia (Singapore). Given that these are funds and not corporates, The sole motto seems to be capital appreciation which is a positive.
• The Indian IT sector too is approaching its critical resistance for the third time.
Which company should we analyze next? 👇
Thoughts or Questions? Let us know in the comments below.👇
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
Here is all you need to know about Happiest Minds:
• The stock price has been range-bound in a downward Wedge pattern for over 14 months.
• An attempt to break the pattern resulted in a long upper-wick candle, suggesting sellers' presence.
• A subsequent inside candle gave a weak breakout, after which the price has been consolidating/retesting.
• The psychological level of 1000 has acted as a strong resistance.
• Despite crossing the 1000 level weekly for the past 3 weeks, the price has failed to close above it.
• A close and sustenance over the 1030 level would be absolutely necessary for it to continue its upward momentum
• The next immediate resistance seems to be around 1175.
• Another important thing to note is that it recently raised 500 Crs via QIP @ 924/Share. That is what triggered the 6% fall a day ago.
• Help us reach many like-minded investors like You! Would you give us a Boost for motivation?
• Investors included Troo Capital, Société Générale, BNP Paribas Arbitrage ODI, BofA Securities Europe SA -ODI and Morgan Stanley Asia (Singapore). Given that these are funds and not corporates, The sole motto seems to be capital appreciation which is a positive.
• The Indian IT sector too is approaching its critical resistance for the third time.
Which company should we analyze next? 👇
Thoughts or Questions? Let us know in the comments below.👇
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions. Irrespective of the language used, Nothing mentioned here should be considered as advice or recommendation. Please consult with your financial advisors before making any investment decisions. Like everybody else, we too can be wrong at times ✌🏻
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Viewpoint update:
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Still Rangebound:
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CRUCIAL !
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1. The price closed below 200 EMA on Daily TF
2. The 885 level is crucial to hold. Failing which, We may see the intra-channel move
As we said: A close and sustenance over the 1030 level would be absolutely necessary for it to continue its upward momentum
Also, Updating the trendlines with current price action: