Strong Momentum. Looks good for Swing Trade. There is a good breakout of consolidation zone as well as good momentum.
Quesscorp
Quess gave a breakout with good volumesaccording to symmetrical pattern Quess is going to make another push to point 3 a good investment till 700 range.
stop loss below 450 .
Few more hurdles and Quess will not be a Question mark.Quess Corp Ltd. is one of the leading business service provider in India. They provide technology enabled staffing and managed outsourcing services across processes such as sales and marketing, back office operations, manufacturing operations and many more. The company operates in four main business verticals: workforce management, operating assets management, global technology solutions, product led businesses. Quess Corp CMP is 433.75.
Negative aspects of the company are high valuation (P.E. = 27.9), declining annual net profits, declining cash from operations annual, FIIs are decreasing stake, MFs are decreasing stake. Positive aspects of the company are low debt, promoter holding increasing and zero promoter pledge.
Entry after closing above 445. Target of the call will be 462 and 489. Long term targets in the stock will be 542. Stop loss in the stock should be maintained at closing below 398.
Quess Corp ReversalThe stock has broken out and retested, therefore may undergo a reversal rally. Trade is supported by brokerage calls and Supports Nearby.
Risk Reward Ratio - 3:1
SL is placed below 200 EMA support zone & the lower trendline. The target is placed near resistance.
