Buy Persistent Systems Ltd :: HDFC Sec, link

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Persistent Systems Ltd Current Observation:
 The attached daily timeframe chart of Persistent Systems Ltd is indicating a sharp upside breakout of the declines of
the last couple of sessions.
 We observe a formation of bullish ‘flag’ type pattern (brown parallel down sloping trend lines-sharp upmove with
gradual declines) and the stock price has staged upside breakout of that pattern in today’s session. This is positive
indication for the underlying trend of Nifty.
 The bullish flag pattern is a trend continuation pattern and this opens up the possibility of potential upside target of
around Rs.1760 for near term.
 Daily momentum oscillator like 13 period MACD has turned up from near its signal line indicating beginning of fresh
upside momentum in the stock price.
 Positive chart pattern with upside momentum is suggesting a buying opportunity in this stock.


LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3010361