We published about Persistent System in May 2023 and predicted possibility of Multibagger returns in coming 2-3 years. Check out the research we had published on 30th May 2023 itself – This stock has managed to hold its gain and gave more than 60% returns in 8 months of span and made a life time high of 7560 levels.
Persistent System Weekly chart Anticipated as on 30th May 2023
Multi-bagger stock recommendation: PERSISTENT SYSTEM
Buy Price – Accumulate
at current levels near 5050 and more on dips towards 4290
Time Horizon –2 to 3
years
Investment – 5% of
capital
Target price –??
Stop loss - ??
Anticipated as on 30th
May 2023– Elliott Wave Theory:
Persistent Systems Limited is
engaged in the business of building software products. The Company offers
complete product life cycle services.
The stock is moving in classic
Impulse manner. Wherein, Primary wave 2 was completed in March 2020 near 420
levels. Since then, the stock has witnessed a classic impulse rise in form of
Primary wave 3. Primary wave 3 is further subdividing in nature. Wherein wave
iii is ongoing on the upside. Prices have formed classic inverted Head and
Shoulder pattern. Usually this pattern forms near lows but this time it looks
to be forming at the top by making an exception.
The stock is following 86 Week’s
Time cycle. The dotted red line represents 86 Week’s Time cycle and we can see
sharp bounce back on upside after prices are near that zone. The next cycle is
due in the month of July 2023.
Persistent System Weekly chart Happened as on 30th May 2023
Happened– The stock has been moving in sync with our expectation.
Stock made low exactly near our cycle and since then it has shown a really good
rise of overall 60% from the lows in just 8 months of span!!! It has
touched its fresh record high near 7560
levels recently and currently it is quoting near 7430 levels. The overall up
move has been strong and we expect prices to achieve its target of...levels in
coming months
.
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