Buy Persistent Systems; target of Rs 940: Dynamic Levels

Dynamic Levels research report on Persistent SystemsPersistent Systems was incorporated on May 30, 1990. On 17th September 2010 Persistent Systems Private Limited was converted into a public Limited company with the name Persistent Systems Limited. Shares of Persistent were listed on National Stock Exchange of India on March 2010. Persistent System offers complete product life cycle services. Company has a global presence having specialization in software product, services and technology innovation. Company has its Branches at Australia, Germany, Japan, Malaysia, South Africa, The Netherland and United Kingdom. Persistent had tied up with IBM to jointly work on the Internet of Things (IoT) platform, last month. Anand Deshpande, MD and CEO of Persistent Systems said that the deal with IBM contributed 8 % to its revenue in March quarter and he further expects it to increase to 15-20 % in fiscal year 2017.We recommend BUY in Persistent Systems @ 745 with the Target of 940 as Persistent showed highest deliverable quantity on 18th April for 1.38 Lakhs shares at 730-720 levels and on 26th April 2016 for 1.90 Lakhs shares at 740-706 levels. This shows that company is taking support at 706 to 720 levels.

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