DATAMATCIS GLOBAL SERVICE LIMITED ANALYSIS

THIS IS MY CHART OF THE WEEK PICK

FOR LEARNING PURPOSE

DATAMATICS GLOBAL SERVICE LTD- The current price of DATAMATICS is 826.05 rupees

I am going to buy this stock because of the reasons as follows-

1. It's retesting the zone which acted as a good resistance in 2023. Before it acted as resistance and now it should act as some support.

2. This stock has seen some great buying since 2021. It has consolidated in between and continued it's run.
It has got time correction which was required.

3. It is showing better relative strength as it stood strong in volatile times including last few weeks.

4. The risk and reward is favourable.

5. The stock is one of the outperformers in this market. The structure is great as of now. It has also outperformed it's sector.

6. Another good part- The overall sector has shown some decent strength and have good momentum.

I am expecting more from this in coming weeks.
I will buy it with minimum target of 35-40% and then will trail after that.
My SL is at 713.55 rupees.
I will be managing my risk.