RCF has formed Reverse Head & Shoulder Pattern after long down trend. Can be added at current level around 110 with target of 125 and set SL at 103. This gives us risk to reward ratio of 2.17.
This idea is only for education purpose, Please consult your financial advisor.
I am not SEBI registered.
1. Inverse H & S pattern
2. Price is respecting Horizontal S & R zones
3. TL BO
4. 50 EMA BO & Retest
5. Volume is above average
6. Close is above PDH 105.20
7. Close is above LMH 106.45
* Educational purpose only *
Stock Name - Rashtriya Chemicals And Fertilizers Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 145.
#This is not Buy and Sell recommendation to any...
RCF LTD Broke its weekly resistance line and trading at the previous swing high level.
All essential levels are marked on the chart.
"If you would like any more information feel free to DM me"
happy trading & keep learning.