Technical Analysis of Indian Equities by Nooresh

Datamatics r times changin or IT boom

Datamatics is considered to be a decent IT co in da industry and i dont see it
doin nething wrong with teir work but not an investors pick till now…
Being in IT industry and an engineer working in Hexaware n in touch wid
people in IT its in a boom especially in mid cap IT stocks is what i hav been saying for a year noww….
Technically in Datamatics is or i can say trying to come out of consistent downtrend…
The constricting channel is a sign of the stock trying to breakout of the trend and the sideways
moment of late is an indication …
Volumes in the stock have been rising continously for the past few weeks…
The stock is facing resistance at 62-64 region
An investment from medium to long term can be taken in the stock with a stop at 52
Above 62-64 the stock will be in a huge uptrend so keep track… it can hit 80-90 levels soon then

Article by Nooresh Merani

Nooresh has written 2744 articles.

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