Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Classical Price Breakout in Megasoft

17 sec read


 
There is a classical price breakout in Megasoft software where the price has been close above the resisted line near Rs33.2 for many number of times in the last one year. And also RSI(100) is increasing and currently above 56.65 Possibly steeper trend with higer prices could come faster. Interestingly stock is also at 52 Week High 🙂

Buy and Hold could be a worst Strategy though…..
Instead its better to watch out on the perspective on short term

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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6 Replies to “Classical Price Breakout in Megasoft”

  1. I am buying this stock from 140 levels till 12, sitting on good profit, not sold a single share will start from 60-90 range 75%

  2. Ideal for investment purpose. entry point around 30 if closing below 33.30. Below 24.10 it is bearish. Now all technical indicators are bullish.

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