NETSOL - PSX - Sideways TrendNETSOL - PSX - in sideways market shows Trade Plans for both Long & Short trades with the help of support and resistance.
NETSOL trade ideas
NETSOLThe price action validates a breakout and subsequent retest subsequent to the formation of a cup and handle pattern. Currently positioned at the confluence of a support level around 124, if this support level endures, a pullback is anticipated. Notably, a resistance level rests at approximately 144, and only upon its breach can further bullish momentum be expected.
Should wait for Breakout??Those who Do Not want to Take Risk at
Current Levels, Should Wait for Breakout
Above 143 for the Initial Target of 160
Netsol-PSX Buy CallNetsol is buy on dips,breaking long consolidation range is on bullish move could give good returns.
NETSOLNETSOL must surpass the 144 resistance level to effectively conclude its bullish momentum, as delineated by the cup and handle pattern. Notably, a significant supply zone is situated within the range of 182 to 195. To mitigate potential losses, it is prudent to implement a stop loss strategy below the 125 mark, which represents the neckline zone of the pattern.
Initially 125 is a Strong Resistance
Initially 125 is a Strong Resistance
114 - 118 may appears to be a Good Support
for Quick Trade
NETSOLBuy1 around 90.90 - 91.40
Buy2 around 83 - 84
TP(1) 95 - 97
TP(2) 101 - 103
Stoploss 75 (Closing basis)
NETSOL: Bullish (LONG)NETSOL is forming bullish divergance on 4h time frame, and also break the nick line, we take a entry on Entry point or at market price.
NETSOL is BullishNETSOL is currently bullish as it is printing higher highs and higher lows, the rally is expected to continue further up. Targets are mentioned on the chart.
PSX: NETSOL TO SHINE NOWNETSOL is a technology company that has been gaining the momentum for t Bull run.
It started accumulation at the start of September the volume in recent days has been good causing the average daily volume to rise. At every swing high the price has been inching up and now the price is being rejected at another swing high which is expected to get support at the specified support zone, fib 0.38 & 0.5. it is assumed under these circumstances that this time the price shall make a big move towards north.
For the trading purpose the TP-1 has been defined. For a medium term investment the TP-2 & TP-3 has also been identified
Profitable trading is Happy Trading
NETSOLPrice action is making bearish flag pattern, break of the flag can test 70 level which is the mojor demand area.
NETSOL - initial target of 10% upside
After witnessing a rapid recovery in IT stocks worldwide, especially on the NASDAQ, it seems that a similar trend may be expected in Pakistan's IT sector in the near future. The IT sector is poised to be a significant beneficiary of the current economic environment, with the government likely to provide further tax rebates. Given this outlook, I hold a bullish stance on the IT sector and have identified NETSOL and TRG as top picks.
Currently, NETSOL is trading at $80. I have set an initial target of 10% upside, and once this target is achieved, we can review and discuss the next set of targets.
Please note that the above analysis represents my personal opinion as a financial analyst. It is important to conduct further research and analysis before making any investment decisions.
