Expecting a Bullish Momentum in RUPA

alokdaiya Updated   
As per the 2 Hour Chart of RUPA, we have witnessed the Formations of a “Bullish Engulfing” and a “Morning Star” Pattern on the downside levels.

Therefore, we are expecting to witness a bullish momentum in the stock in the upcoming trading sessions. Wherein, the stock is being expected to face a resistance initially at around the levels of 496.10, 505.80, and 516.30. Whereas, on the other hand, on the downside levels, the stock may face a support at the level of 481.15, on closing basis.
Closing Price (as on 27.04.22) : 486.95

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RUPA has successfully reached its predicted 1st level of Resistance, reflecting an upmove of 1.88% approx.
RUPA has successfully reached its predicted 2nd level of Resistance, reflecting an upmove of 3.87% approx.
RUPA has successfully reached all of its predicted levels of Resistance, thereby reflecting an upmove of 6.03% approx.


Alok Daiya
SEBI Registered Research Analyst

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