NeeteshJain

RECLTD - Undervalued

Long
NSE:RECLTD   REC LTD
It has been observed that the price action is consolidating within a downward channel . Now, the price action has reached to the support zone and also touching the support of the downward diagonal. On such zone, buying can be seen which shall further move prices up.

As per my analysis, RECLTD is undervalued at current levels. It is providing good investment opportunity.

Trade Targets:
T1- 134
T2- 140
SL- 122

Investment Targets
T1- 150
T2- 175
SL- 115
Trade active
Comment: Valuation Facts:
PE: 4.90 (Below Industry Average)
Book Value: 188 (45% Discount)
P/BV: 0.68
Comment: Trading SL revised to 120 levels due to market volatility.