DATAMATICS after strong upside move created cup and handle chart pattern according to this chart pattern we can plan to play for upside rally once it gives breakout of its neck line, in this scenario datamatics gave cup and handle chart pattern neck line breakout with strong bullish candle and volume. can play for swing by considering 1:2:3 R/R.
A sequence of consolidation patterns in a stock may imply that it is preparing for a noteworthy movement, and if it is trading above important moving averages, it may indicate a robust bullish trend. Furthermore, breaking through the recent all-time high level is a distinct indication of the stock's upward momentum.
CMP 346.25
FII / FPI or Institutions increasing their shareholding
Near 52 Week High | Increasing Revenue every Quarter for the past 4 Quarters
Increasing profits every quarter for the past 2 quarters
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it looks 20th june week candle holds a bunch of buy orders, looks positive in that area if we get a good wick or a reversal candle we can go for a swing & exit before 400 (i have seen a lot of stocks which reversed before hitting a round figure and stays low for some times).
Datamatics Global Services Ltd is a global provider of Information Technology (IT), Business Process Management (BPM) and Consulting services. The Company provides business aligned next-generation solutions to a wide range of industry verticals that help enterprises across the world overcome their business challenges and achieve operational efficiencies
Bullish above 372 as 1 day close above
Target 400, 438++
SL: 350
Risk is yours and Reward is too yours totally
Time Frame : 3 Months
Logic Rectangle Pattern breakout and Rising channel
Datamatics provides intelligent solutions for data-driven businesses to increase productivity and enhance the customer experience. With a completely digital approach, Datamatics portfolio spans across Information Technology Services, Business Process Management, Engineering Services and Big Data & Analytics all powered by Artificial Intelligence. The company has a...
Buy above the rectangle - todays High
Target
Stop
mentioned on the chart
The stock has made a breakout from the recent range with volume to support the same.
Simple Price , Neararest Target and Nearest Support based trade
Can fall off theoretically as resistance is more. I have just identified the pattern, use your knowledge to build on top of it and trade accordingly.
Any other idea is welcome.
I like the chart and last week movement in the stock. Gave breakout on charts and ready to give more returns in very less time. It can be accumulate on dips for higher gains. I will wait for little correction to enter into stock as the risk reward ratio is high.
Target: 200
Time Frame: 3 Months
Entry Range: 100-105
Stop loss: 90
