falakshayaan16

POSSIBLE BREAKOUT OVER CMP!!!

Long
NSE:RCF   RASHTRIYA CHEM & F
Stock has given a crucial closing in today's session and has almost confirmed an inverse head and shoulders breakout on weekly charts. Stock can really show a big move from here as all the PSUs are going through rerating and this can be a very good play considering this rerating theme. A long position is recommended with respect to the levels mentioned on the charts.
Comment: 1st TARGET ACHIEVED!
Comment: 2nd TARGET ACHIEVED!

Comments

how far it may fall to meet third target
Reply
falakshayaan16 RoopaNaveen
@RoopaNaveen, doesn't seem to go below 80, might consolidate here at these levels for a while before it starts its next leg.
+1 Reply
RoopaNaveen RoopaNaveen
@falakshayaan16 thanks , hope it does as you say. I did a mistake so checking if it will go up or not .
Reply
falakshayaan16 RoopaNaveen
@RoopaNaveen, you may keep a stop-loss below 80 on weekly closing basis.
+1 Reply
RoopaNaveen RoopaNaveen
thank you for your prompt response
Reply
Should we wait for third target? Or the rally will stop now? Sir how to decide in such fast moving breakout stocks which can go down suddenly also?
Reply
falakshayaan16 Himanshu93
@Himanshu93, see the people who bought around breakout levels can book their profits even at these levels they still have got more than 50% or if they're comfortable they can choose to ride it more it totally depends on them, but yeah we can't suggest anyone to freshly buy at these levels because it has rallied quite a bit now. In my view it can still surge for the 3rd target, might take a little time but it will. In situations like these it is important for the trader to take the position at good levels because once the stock starts ticking up then it's hard for anyone to comfortably take any position.
Reply
Himanshu93 falakshayaan16
@falakshayaan16, Wow!Such a great insight! Loved this simple but very effective rule. Appreciate your efforts!
Reply
falakshayaan16 Himanshu93
@Himanshu93, you're really appreciative, really glad I could share my knowledge with you.
Reply
All set for third target!
Reply
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