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Railtelcorporation

Railtel Corporation of India Ltd - Breakout OpportunityDate : 23-Aug-2024 LTP : Rs. 497.30 Resistance Levels: (R1) Rs. 559 --> (R2) Rs. 617 --> (R3) Rs. 722 SL : Rs. 448 on daily close basis Technical View: • NSE:RAILTEL is in it's primary uptrend and was recently going through it's secondary downtrend. • After touching the high of 617.80 on 12-Jul-2024, it has retraced 27% to 448.35 level. • On 23-Aug-2024, NSE:RAILTEL has broke out from it's secondary downtrend with higher than average volume. • NSE:RAILTEL is trading above 20 DMA and 50 DMA. On 23-Aug-2024 it closed above 20 DMA and 50 DMA. • RSI has entered buy zone and trading at 55.18. • MACD has crossed over it's signal line and about to cross 0 line. • Looking good to start a new swing from here. Like the analysis? Boost/Like this idea and follow my ID. Disclaimer : I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market. My ideas are published for learning purpose only and are available to everyone at no cost/charge.
NSE:RAILTELLong
by vikrant_252