The chart and drawings are self explanatory.
Ramco has just broken its all time high, supported by decent volumes. The stock retested its resistance, which is a good sign for the stock towards extension of the rally.
Positional traders can take a position at the current levels, with a stop loss at ~325 levels.
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Don't rush to get in to the trade until and unless if you find weekly strong candle to close above 330 level.
Short term to long term holding can lead to target of 390.
In current week good volume came same like it was in Oct 2016.
Looks promising to buy for short term.
1. Made a double bottom
2. Breakout with a good volume with a single candle.
3. RSI convergence
Three different indicators pointing in the same direction give the trade the power of confluence. However, the entry should be made only after a successful retest.
The target can be decided with the help of the Fibonacci tool as it will be making new highs...
Please use 3mins chart if the script open and close within the Green and Red Line its high probability trade do not waste time if open Gapup and Gap down. Can Initiate position as per the direction.
Disclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.