RVNL Analysis
📊 Script: Rail Vikas Nigam Limited
📊 Sector: Construction and Contracting
📊 Market Cap: Midcap
Key highlights: 💡⚡
📈 Stock has touched the its all time high of 647 in July 15 2024.
📈 By reading of the daily charts we can see that the chart is moving in the similar way and by making same patterns as mentioned by drawings in the chart. There are lot of DOJI and inverted hammer candles suggesting the indecisiveness of buyers and sellers. Breakouts that are being made are made with good volumes assuming on account of some positive news at that time.
📈 For the shorter period time frame such as 1HR the stock is trading between narrow range of Rs. 520-Rs.603 and there is RED DOJI candle being formed on 30-08-2024 with high net volume in RED, also the same pattern of candles as seen in daily charts is being seen in hourly charts.
📈 Stock is trading near 50 EMA and the same is acting as the immediate support. As per the daily chart the support level of the stock is 530 and 450. RSI is in the bullish area and MACD is just at the zero line.
CONCLUSION
Considering the above mentioned facts for the short term view I will be bearish on the stock considering the indecisiveness of buyer and sellers being shown in the stock and movement in stock only on account of some news.
For the long term view one can follow the below mentioned targets
⏱️ C.M.P 📑💰- 600
🟢 Target 🎯🏆 - 716
⚠️ Stoploss ☠️🚫 - 552
⚠️ Important: Always maintain your Risk & Reward Ratio.
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Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
📊 Sector: Construction and Contracting
📊 Market Cap: Midcap
Key highlights: 💡⚡
📈 Stock has touched the its all time high of 647 in July 15 2024.
📈 By reading of the daily charts we can see that the chart is moving in the similar way and by making same patterns as mentioned by drawings in the chart. There are lot of DOJI and inverted hammer candles suggesting the indecisiveness of buyers and sellers. Breakouts that are being made are made with good volumes assuming on account of some positive news at that time.
📈 For the shorter period time frame such as 1HR the stock is trading between narrow range of Rs. 520-Rs.603 and there is RED DOJI candle being formed on 30-08-2024 with high net volume in RED, also the same pattern of candles as seen in daily charts is being seen in hourly charts.
📈 Stock is trading near 50 EMA and the same is acting as the immediate support. As per the daily chart the support level of the stock is 530 and 450. RSI is in the bullish area and MACD is just at the zero line.
CONCLUSION
Considering the above mentioned facts for the short term view I will be bearish on the stock considering the indecisiveness of buyer and sellers being shown in the stock and movement in stock only on account of some news.
For the long term view one can follow the below mentioned targets
⏱️ C.M.P 📑💰- 600
🟢 Target 🎯🏆 - 716
⚠️ Stoploss ☠️🚫 - 552
⚠️ Important: Always maintain your Risk & Reward Ratio.
✅Like and follow to never miss a new idea!✅
Disclaimer: I am not SEBI Registered Advisor. My posts are purely for training and educational purposes.
Eat🍜 Sleep😴 TradingView📈 Repeat 🔁
Happy learning with trading. Cheers!🥂
Comment
Already breakdown from levels of 600 which was the strong support zone 
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