amankavi
Long

Ruchira Papers - Investment stock (can rebound)

NSE:RUCHIRA   RUCHIRA PAPERS LTD
Scrip can rebound back as it is facing resistance at support levels with double bottom and is already trading around 52-week low

Rest in charts.

Bullish momentum sign
1) RSI indicator rising in past few sessions
2) Although, Broadening Falling wedge pattern in play which is bearish sign however scrip has started to face resistance after partial decline
3) Stake holding of known investors like Dolly Khanna
https://www.moneycontrol.com/news/business/companies/hsil-awaiting-regulatory-approvals-for-demerger-2535875.html
4) Fundamentally sound company which has shown great results with progressive rise in PAT YoY basis, reducing debts with RoE more than 20%, CAGR coming in 15.87%
http://www.business-standard.com/article/news-cm/meghmani-organics-consolidated-net-profit-rises-130-95-in-the-december-2017-quarter-118021000690_1.html
https://www.indiainfoline.com/article/editorial-interviews-leader-speak/interview-jatinder-singh-chairman-whole-time-director-ruchira-papers-limited-117062900237_1.html
https://www.screener.in/company/RUCHIRA/

Aiming towards TP- resistance zone and beyond thereon after entry confirmation until the scrip sustains above support levels.

SL as per risk appetite

https://www.screener.in/company/RUCHIRA/
Comment: Bullish pin bar in play in today's session. Gap up might be seen tomorrow as MACD also showing bullish crossover

Comment: After recent pullback from ascending broadening wedge, The scrip can be seen in Bullish Divergence forming lower bottom and higher bottom in MACD and RSI. Retracement thereon with bullish reversal might take back the scrip towards 52-week highs

Trade active
Trade active:
Trade active: Cup and candle pattern -> Bullish Engulfing -> pullback -> Bullish Engulfing

Will the scrip manage to break the resistance and surge this time owing to good fundamentals and strong apprehension given by top management of the company after the company successfully completed implementation of modernization programme for which topline and bottomline will grow in Q2Fy19
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out