RALLIS - 2.5 Years Downtrend BreakoutRallis India Ltd
1) Time Frame - Weekly.
2) The Stock has been in a Downtrend since (June, 2021). Now It has given a Downtrend breakout & Closed above it's (December, 2022) High with strong bullish momentum candle & with Huge Volume in Weekly Time Frame.
3) The stock will move towards It's Life Time High price (362.60) in the long term.
4) Since the midcap and smallcap index are under selling bias & It's a 5000 Cr Market Cap company, One need to be cautious & should keep the Stop Loss tight In case of any sudden selling in the stock.
5) Recommendation - Consider Buying it with tight Stop Loss.
