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Firstsource Solutions Ltd.

Discussion in 'Chart of the Week' started by srspriya06, May 13, 2014.

  1. srspriya06

    srspriya06 Active Member

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    Chart is pretty good.

    FSL_Daily_13-05-2014.jpg
     
    srspriya06, May 13, 2014
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  2. shabbir

    shabbir Administrator Staff Member

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    Big red candle should be something that needs to be looked into as well.
     
    shabbir, May 13, 2014
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  3. ravirajpr

    ravirajpr Responder

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    Correct Shabbir.
    Seems most of the IT stocks are now out of favor of the market and there are sharp corrections seen in most of the IT stocks.

    I did take a position in FirstSource Solution on 15/4/2014 considering the rectangle parallelogram and price indeed met my target around 34 zone however due the bullish pattern was expecting trend continuation with a minor 2 way correction.
    I can still say the pattern is still valid as the resistance is not yet broken and it is in a channel however assume there may be further correction in all IT stocks however don't want to take more risk on stocks that is not in market's favor for the time being.
    Closed the position for breakeven today.
    Assume with rupee gaining against dollar IT stocks are losing favor ?!
     

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    Last edited: May 19, 2014
    ravirajpr, May 19, 2014
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  4. shabbir

    shabbir Administrator Staff Member

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    Yes and as Modi is PM, he would work on consolidating USD. Atleast that is what marketing thinks as of now.
     
    shabbir, May 19, 2014
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