Multibagger Stock: Persistent System up by 60% in just 8 months!!

elliott wave multibagger stock persistent system Jan 11, 2024

Multibagger Stock: Persistent System up by 60% in just 8 months!!

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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