NIIT Ltd. after a long term break out of 115 levels, symmetrical triangle formation is formed on the daily chart. A breakout above 136-137 odd levels can give a great upside move with 148 being the first target. StopLoss can be maintained @127(recent swing low)
BUY IN DIPS NOW 131.50 SL 97 TARGET 150
FUNDAMENTAL ALSO SUPPORT WITH TECHNICAL BREAKOUT
Over the last 5 years, revenue has grown at a yearly rate of 20.92%, vs industry avg of 9.45%
Over the last 5 years, market share increased from 27.63% to 65.42%
Technical Indicators Showing Breakout Above
Technical Breakout
Up Flag
Low Risk Moderate Return
First Target Rs . 110
Second Target Rs . 115
Third Target Rs . 120
Stop Loss Rs . 98(on closing basis)
CMP Rs . 103.2
If Crosses 120, Hold for rally and trail SL.
Long, but be careful, as the counter mostlikely may participate in the direction of the overall market. It has rarely bucked the market trend. My bias on the market is negative for the short term.
Looking at the current situation one can go long on NIIT Ltd. Buyback price of 125 is a good deal from the company hope we see my both target before the buyback. Good luck
NIIT has completed the Flat pattern ABC. The recent up move seems to be in a consolidation phase. Once the consolidation to the downside is finished, the next move could continue to be up wards and it will most likely make a higher high. I wont suggest buying yet nor shorting it either but I would definitely like to wait patiently till the consolidation is...
above 108-110 stock can see a rise of 40-50% in a years time . Positive cash flow and demand for training will take this stock higher levels. RSI on monthly charts is also provide support for the bullish trend.
