sudhansrini

RANE ENGINES : Getting Ready for a breakout ?

Long
BSE:RANEENGINE   RANE ENGINE VALVE LTD
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Study of the daily and hourly charts of Rane Enegines brings in a sharp similarity. Both are showing consolidations with a triangle formation extending beyound 75% of the base, indicating its ripe for a breakout. The blue resistance line also is a resistance on the daily charts . (Not sure how to show both timeframes in the same post)

The stock should either breakout to make new highs and resume its northward jorney or get into a more serious consolidation/correction in a couple of sessions.

Certainly worth watching out!

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