FirstSource Solution: Stock Radar: High to 50% Down! This is a midcap IT firm

The stock is forming a lower top lower bottom structure and thus is on a downward trend which is a sign of bearishness in the weekly chart.

Summary

The stock reached a 52-week high of Rs 242.65 on the BSE on July 19, 2021, but the trend has weakened since then. On May 20, 2022, it fell more than 50 percent to a 52-week low of Rs 105.65.

The FirstSource solution, which has fallen more than 20 percent in one year compared to the nearly 8 percent increase seen in the Nifty50, has fallen more than 50 percent from its recent high – putting it in a good market. A recent high or more than 20 percent fall from a peak effectively implicates what could be a stock or an indicator in the bear area. Read here to know more about bear market The stock reached 52-week high of Rs 242.65 on BSE on 19th

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