Zensar Technologies stock is in strong uptrend on key time frame. After making a life high in September 2021, it corrected and halted near the 380 level, which coincides with a strong demand zone on the weekly chart, HDFC Securities highlighted.
share IT Stock As its top E-margin positional pick based on technical trends, the brokerage and research firm said that Zensar Tech shares have also taken support from the 61.8% Fibonacci level by combining low (254) and high (587).
Additionally, “A bullish candle pattern is observed on the daily chart which suggests that the stock may resume its upward journey. The stock also took several supports near the lower band of the Bollinger Bands on the daily chart. On the weekly chart, the RSI (Relative Strength Index) (14) has taken support at 40 levels,” the brokerage said in a note.
HDFC Securities has a buy rating multibagger stock, which has increased by over 115% in 2021, with a target price of 582 each and stop loss 473 with a time limit of up to three months.
+DMI and ADX are well above the 25 level as seen on the weekly chart which indicates that the bulls are in control. The primary trend of the stock has been bullish as the stock is making higher tops and higher bottoms on the weekly chart.
ICICI Securities, another domestic brokerage house, also remains positive on Multibagger stock, and believes Zensar Tech. 565 per share (target price) with a target period of about twelve months, it said in a note dated December 29.
Driving deal momentum, annuity revenue, increasing investments in sales and talent, leadership and tuck-in acquisitions bodes well for long-term revenue growth for capacity building. According to ICICI Securities, expect dollar revenues at a CAGR of 11% over FY 2011-23E, which may act as a key trigger for future price performance.
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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