gunturusurya

RUCHIRA PAPERS can go 10% UP keep some for dips

Long
NSE:RUCHIRA   RUCHIRA PAPERS LTD
after lockdown bussiness is back on track in short term we way get 10% the stock has been falling since 2018 from a peak of 200 where small caps peaked out in 2018 ,in monthly chart the stock is above 20 day moving average in bollinger bands and in day chart the bollinger bonds are compressing ,perviously it went to 71 so we can expect to break that level this time if breakout happens on the upside ,probability of up is more as small caps are mostly cyclic and boom every 5 years since 2018 we already completed 3 years ,till two more years and nifty is at altime high so large and mid have already grown ,left are small caps we can see the down trend from 2018 is over and now stock is in uptrend in weekly or monthly chart ,lower side support is at 60 second upport at 55(very strong support) based on gap theory(you can see three times gap up or down happend at this level on day chart) and third support at 45 but mostly it may not go threre as it is covid level ,from here there is high probability that it goes up as the long downtrend is over and nifty is about to cross 15000(expected) and if consider 50 DAY MA and 200 DAY MA its an golden crossover so mostly it will go up
in jun , aug , december stock tried to break 71-72 level but could not break now this time it might break , or if the stock gets to 71 we will be still in 10% profit

this is not an investment call just my view and idea trade at your own risk
thankyou for reading
Comment: see target met and took support at gap 57.6 but i gave 55 those are approx values ,

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