RALLIS INDIA posted earlier after forming an ascending triangle Above 262 Level for a Target 267 and Today the stock made a HIGH 269 due to a strong RESISTANCE 270 Level. HAPPY TRADING TO ALL
RALLIS INDIA as per daily chart analysis has formed an ascending triangle pattern and once the stock breaks 260 level then above 262 for a target 267 level.
RALLIS INDIA as per daily chart pattern analysis after a brief consolidation is about to break 260 level and resistance is at 270 level. Once the stock breaks 270 level then uptrend momentum will begin for target 315 level.
RALLIS INDIA as per daily chart pattern analysis iam very surprised to find the stock has not shown any sign of recovery after hitting the support levels and once it breaks 243 level then next support level is at 238 and next is placed at 232 level. I hope tomorrow being bullish the stock should reverse from here and consolidate to move upwards.
RALLIS INDIA as per daily chart pattern analysis has taken the trendline support and if it breaks then 255 is the next support level followed by 243 support level for the stock to reverse. However one can see a fresh buying opportunity only after full correction completed.
Scrip - Rallis India
Setup - Bouncing from support zone and closing above previous swing high
Entry - 300 - 310
Target1 - 330-335
Rallis India is a Tata Group Company and is a Fundamentally strong counter.
Ace Investor RJ & family also holds around 10% stake in the company.
(This is an investment idea and in case market sees sell-off more position can be added...
Chart 2 - 15 Min Time Frame : A further confirmation of below swing trade can be taken if stock breaks the confluence of Daily Trendline and horizontal support. Can be considered for target of 274-275 if bounces from support.
Chart 1 - Stock took support at Fibonacci 50% level in month of November. If stock sustains above 270-275 in next couple of sessions, can...
