It is been observed on the Monthly Chart that the price action is trending up by making higher lows and higher highs (indicated on the chart with a long upward moving arrow). Hence it is providing a good investment opportunity at current levels. It is also fundamentally strong company and with interest rate and inflation going down shall benefit the company's...
Apollo Tyre - one of the leading Tyre manufacturing company of India and a wonderful scrip for the traders as well as investors in India, was in a downtrend since quite some time. The counter hit high of 249.8 in the month of February 2015. The high was achieved due to the continuous famous bull run of 2013-14. The counter suddenly fall in the month of February...
TataSteel, one of the largest metal company of India, was in a steep downtrend since almost a decade. It hits high of 1048 in October 2007 and then we saw lots of ups and down in the counter. It hit another high of 579.90 in June 2014 and again it went down to touch the bottom of 199.70. Th counter started fresh upward movement in September 2015 after making a...
It is been observed on the weekly chart that the price action breaking above the current downward trendline, indicating buyers dominance over price action and a further move up. It has also formed inverse Head-n Shoulder pattern, which again indicating a reversal and a bullish move ahead.
Target 1: 360 (1:1)
Target2: 410 (1:2)
As shown on the weekly chart, RCF is about to complete a 8 year old symmetrical triangle.
What makes it special is-- there is a good inverted Head and Shoulder price pattern (S-H-S) in last leg.
Breakout is above 54 - 58 zone targeting 130+++