In the past few sessions, Syntel shares have suffered from a sharp fall and is now coming back on significant level support.

According to Surperformance rating, the company is an opportunity for a trading strategy. Indeed, it is a good compromise between its value and its visibility. Moreover, brokers have lately revised upward their revenue estimates and count on EPS of USD 2.94 for this year.

Currently the stock is oversold and, in the mid-term, it is trading in a bearish trend. In the short term, this trend is reversed upon contact with the USD 55.2 area. Syntel should be able to confirm its increase in the next trading sessions. This support is a trading opportunity in order to anticipate a technical rebound towards USD 59.6 and by extension towards USD 64.55.

Considering technical and fundamental elements, it seems to be an appropriate timing to take immediately a long position in Syntel in order to benefit from the USD 55.2 support area. A first target price will be the USD 59.6 resistance, to fill the gap. A stop loss order will be placed under the mid-term support currently tested. Only a crossing of USD 59.6 would validate a bullish trend in order to aim a higher target price.