PERSISTENT –Strong Base Breakout in Progress | BTST to ShortTerm

PERSISTENT – Strong Base Breakout in Progress | BTST to Short-Term Swing
CMP: ₹6106.50
Trade Type: BTST / Short-Term Positional (3–4 Days)
Confidence Level: ⭐⭐⭐⭐⭐ (90–95%)

🧠 Technical Setup & Reasoning:
✅ Base Breakout Above ₹6050: Persistent has broken out of a multi-session base near ₹6040–₹6055 with strong bullish intent.
✅ Rounding Bottom Formation: Classic bullish reversal structure now confirming a neckline breakout.
✅ Volume Spike: Clear surge in volume on breakout candles — suggests institutional accumulation and strong hands entry.
✅ MACD: Bullish crossover confirmed and gaining momentum — indicates start of new price leg.
✅ RSI: Trending at ~65 and rising — still below overbought zone but confirming bullish energy.
✅ Sector Backing: IT sector showing recovery signs this week — Persistent being a high-beta IT name tends to outperform in such phases.

📊 Trade Levels
🎯 Target 1: ₹6245
🎯 Target 2: ₹6335
🚀 Stretch Target: ₹6450 (if market continues to hold strength)
🛑 Stop-Loss: ₹5985 (on closing basis)

📌 Why This Is High Conviction
Textbook breakout from rounded base with high volume
Strong bullish confirmation across RSI, MACD, price structure
Market breadth improving in midcap IT — supports follow-through
Persistent often gives multi-day follow-through after clean breakouts

📌 Strategy:
Hold or add on dips near ₹6075–₹6100
Trail SL to ₹6050 after ₹6245 is crossed
Partial profit booking suggested above ₹6330

💬 Persistent looks ready for a momentum leg. Ideal BTST or 3–4 day swing setup backed by structure and volume.

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