Short Term Trading Idea in Redtape Ltd. for 25% UpsideHi,
NSE:REDTAPE has given a Bullish Flag Breakout on Daily charts with very good volume.
MACD is also on the bullish side on Weekly time frame. RSI is also on the bullish side on daily and weekly time frames.
In the current market scenario, I am expecting that the bullish momentum will continue.
Complete price projection like entry, stop loss and targets mentioned on the charts for educational purpose.
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Redtape
REDTAPE - Bullish Momentum with VolumesNSE: REDTAPE is closing with a bullish momentum candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the horizontal support for the past few days which is indicating demand.
One can look for a 8% to 14% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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