Birlasoft share price continue to rise for the second consecutive day on August 19, a day after the company entered into a global strategic cloud alliance with Microsoft.
It has touched a 52-week high of Rs 187.60, adding over 9 percent in intraday trade.
In the previous trading session, the share closed up 14.13 percent or Rs 21.20 at Rs 171.25.
On August 18, the company announced a global strategic cloud alliance with Microsoft to help its clients to accelerate their digital journey.
With this collaboration, Birlasoft is strategically positioned to support its enterprise clients with their cloud transformation needs, right from infrastructure to business applications.
"Birlasoft appears to have embarked on a long-term uptrend from the panic lows of Rs 46 registered last March and in Tuesday’s trading session, it seems to have got a fresh impetus with a fresh breakout on the short-term charts as it emerged out of its 7-day old consolidation," said Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in.
"Hence, as long as it sustains above Rs 150 levels it can easily head to test its lifetime highs of Rs 195 registered in September 2018."
"Considering strong uptrend witnessed in this counter, traders are advised to adopt a two-pronged strategy of buying now and on dip preferably in the zone of Rs 160 – 155 levels with a stop below Rs 150 on a closing basis and look for an initial target of Rs 195," he added.
At 13:04 hrs, Birlasoft was quoting at Rs 178.10, up Rs 6.85, or 4.00 percent on the BSE.
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