NSE:REDINGTON
Reason Being:
1. All time High Closing
2. Weekly closing above the resistance zone
3. Huge volume in last 2-3 weeks
#Disclaimer: I'm not a SEBI Registered Research Analyst, These are my views, please consult your Investment Advisor before buying and selling any position. This is just for Education purposes.
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Stock Name - Redington (india) 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 180
#This is not Buy and Sell recommendation to any one. This is for...
NSE:REDINGTON
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your...
We have seen Redington giving a breakout after 6 months consolidation period after split. Due to current market situation we are seeing that stock is coming back to retest its breakout. If sustained we can get massive upside movement as its results are expected soon. If it breaks its support we might see possible levels in the channel where we can buy for long position.
Redington is looking to break away from consolidation. Need to lookout for price movement above 156.
Also, make a note of:
1) above average volume activity over the past few days
2) RSI at 57 with upward bias and...
3) Relative strength as it gathers strength to outperform
