Hexaware (BUY, above Rs156, Target Rs164, SL Rs152): Hexaware on the daily chart gave a breakout from descending trendline as price closed above Rs152 with rise in volumes. After consolidating for almost three months, stock has signaled breakout from descending triangle. This corroborate strength and sustainability from here on and stock is expected to test its April peak placed at Rs172 in the medium Term. Similar breakout has also been confirmed in the RSI oscillator with a positive crossover. (Duration 5 days)
Thursday, August 21, 2014
Trading Strategy TRADE
Hexaware (BUY, above Rs156, Target Rs164, SL Rs152): Hexaware on the daily chart gave a breakout from descending trendline as price closed above Rs152 with rise in volumes. After consolidating for almost three months, stock has signaled breakout from descending triangle. This corroborate strength and sustainability from here on and stock is expected to test its April peak placed at Rs172 in the medium Term. Similar breakout has also been confirmed in the RSI oscillator with a positive crossover. (Duration 5 days)
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