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Take Solutions Technical Analysis #80: Buy | Target Rs 112 | Arijit Banerjee

OUR RECOMMENDATION

CMP#100.7
IdeaBUY
Buy Range95 – 99
Target112 – 115
StopLoss*92
Duration15 – 20 Trading Sessions
Potential Return^11 – 14%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
100.7BUY95 – 101112 – 1159220 – 25 Trading Sessions11 – 14%

# CMP on Aug 07, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 106.
^ The returns are calculated based on CMP#

COMPANY OVERVIEW

Headquartered in Chennai, Take Solutions limited provides solutions in Life Science and Supply chain management. It develops technology, consulting and functional services across clinical and safety of biopharmaceutical companies and generic manufacturers. The company also offers material tracking, business sources outsourcing, engineering design, for the automotive, oil and gas sectors. The company has operational network across Europe, America and Asia.

Stock Data
NSE CodeTAKE
Sectoral IndexNifty IT
52W High194.7
52W Low97
Face Value1
Relative Performance_Take Solutions vs Nifty IT Index

TECHNICAL OBSERVATIONS (WEEKLY)

  • The lows of 94 also correspond to previous intermediate lows which were tested previously, thereby making it strong support.
  • Based on the historical price data, we have seen after resetting the support near Rs. 94, the share price made a sharp U-Turn over the past couple of months.
  • We are expecting a similar upside movement is going to happen soon.
Take Solutions Weekly Chart
Take Solutions Weekly Chart

TECHNICAL OBSERVATIONS (DAILY)

  • On the daily chart, the trendline breakout signalling further northward journey in coming sessions.
  • The Bullish Engulfing candlestick indicates bearish trend may be reversing and it may be a good time to enter into a long position.
  • There is a positive divergence of RSI(14) on the daily chart, and RSI(14) has corrected from oversold (30) region which shows bullishness.
Take Solutions Daily Chart
Take Solutions Daily Chart

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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