NIIT Tech: Gearing up For A Nice Rally

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Notice how the sequence of lower highs and lower lows was halted and price flipped around since September lows. Am watching this stock for a breakout above 450 to add more to my holding.

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ملاحظة

Word of Caution: Have a look at the updated chart of the stock.

Notice the spike in volume on Friday. The spike in volume is occurring right at the prior zone where a similar green candle with volume spike happened few weeks ago. Price then correction about 10% from the highs.

The inability to cross the recent highs, despite the volume spike, makes me slightly cautious / worried. A red candle on Monday (Oct.17) would mean that the stock is still not attracting big buying interest.

Better to wait for the price to clear the green line at 452+ before considering big ticket long positions.