scorpiomanoj
Long

RK FORGINGS - A PERFECT BULLISH SETUP

NSE:RKFORGE   RAMKRISHNA FORGINS
RK FORGINGS
CMP 850
Stop 720
Target 1200 plus
Monthly chart
1) Stock has completed a W pattern breakout last month with above average volumes. Rising leg of the W pattern has seen significant increase in volumes.
2) Stock has been consolidating this month as seen from low volumes and low volatility .
3) W pattern breakout accompanied with spike in RS             above its MA and also other oscillator parameters in line ( MACD etc.).
Trading is my passion.
like you have long targets n deep stop losses so one has to hold the stock for a longer period , how much weightage do you give to fundamentals of the companies you mention ?
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Good one...Thanks for sharing idea..
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