RITES has confirmed a clean breakout above the key EMA cluster (10/20/50/100) with strong volume and positive PSU momentum. The stock reclaimed the 200 EMA and closed near the day’s high, indicating strong buying interest.
🔹 Technical Highlights:
✅ Price above all major EMAs (bullish alignment)
✅ Volume spike vs 30-day average
✅ RSI ~63 (momentum healthy, not overbought)
✅ Relative strength outperforming NIFTY
🔹 Trade Plan:
Entry Zone: ₹288–295
Stop Loss: ₹269 (EOD close basis)
Target 1: ₹320
Target 2: ₹345–350
Invalidation: Sustained close below ₹269
This setup offers a favorable risk-reward for a swing trade, supported by strong technicals and sector tailwind.
#SwingTrading #Breakout #RITES #TechnicalAnalysis #PSUStocks
🔹 Technical Highlights:
✅ Price above all major EMAs (bullish alignment)
✅ Volume spike vs 30-day average
✅ RSI ~63 (momentum healthy, not overbought)
✅ Relative strength outperforming NIFTY
🔹 Trade Plan:
Entry Zone: ₹288–295
Stop Loss: ₹269 (EOD close basis)
Target 1: ₹320
Target 2: ₹345–350
Invalidation: Sustained close below ₹269
This setup offers a favorable risk-reward for a swing trade, supported by strong technicals and sector tailwind.
#SwingTrading #Breakout #RITES #TechnicalAnalysis #PSUStocks
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.