eClerex making some clever movesEClerx Services Ltd. is an IT consultations & outsourcing company. It provides services based on process management, change management, data driven insights advance analytics etc. The company serves sectors like finance, telecommunication, media & software etc. eClerx Services CMP is 1394.70.
Negative aspects of the company are declining annual net cash flow. Positive aspects of the company are improving annual net profits, no debt, FIIs increasing stake, MFs are increasing stake, promoter holding increasing & zero promoter pledge.
Entry after closing above 1411. Targets in the stock will be 1446 & 1496. Long term target in the stock will be 1557 & 1681. Stop loss in the stock should be maintained at closing below 1224.
ECLERX
Nifty, Banknifty, top stocks Analysis with imp leves!The indices saw a choppy session ahead of the Thursday expiry. Midcaps and smallcaps continue to take a beating, but large caps seem to have held their ground well. Reliance tends to hold strong when the broad market is facing selling pressure, hence clearing the 2100 psych level.
Where do you think the #stockmarket is heading?
Important Nifty levels and Banknifty levels for tomorrow:
Levels for Nifty: 15,596, 15,660,15,733, 15,750, 15,835 15,986, 16,040, 16,120, 16,177, 16,225, 16,349.45
Levels for Banknifty: 34,130, 34,420, 34,640, 34,800, 35,011, 35,250, 35,340, 35,400, 35,529,
ECLERX Weekly Chart - Positional (Bull Flag in making)This analysis is purely based on Price Action and Chart Patterns.
Analysis is done on Weekly Time Frame, Hence it may take few weeks to couple of months for price to reach target. Traders should consider this before entering into the trade.
As can be seen from the image, price gave the breakout and then has come down to retest that level as support.
Also, a possible bull flag pattern can be seen in the charts.
If the stock price consolidates at the support and gives reversal signal, one can go long in the stock with SL either little below the support level or below 50EMA (since the stock moving with 50EMA)
Targets are shown in the image itself.
*Trade on your own risk and money management*
Feel Free to comment for any queries or suggestions