Persistent Systems gains on bargain hunting

8 Dec 2022 , 01:05 PM

The stock had declined 6.60% in the past three sessions to end at Rs 4,058.55, from its recent closing high of Rs 4,345.25 recorded on 2 December 2022. On the technical front, the stocks daily RSI (relative strength index) stood at 58.533. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30. On daily chart, the stock is trading above its 50-day, 100-day and 200-day simple moving average (SMA) placed at 3728.37, 3601.01 and 3762.47, respectively. Persistent Systems is a global services and solutions company delivering digital engineering and enterprise modernization. The IT solution providers consolidated net profit rose 4% to Rs 220.01 crore on 9.1% increase in revenue to Rs 2048.64 crore in Q2 FY23 over Q1 FY23. Powered by Capital Market – Live News