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 2556 articles.

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