RPOWER is forming bullish engulfing with RSI is showing probable crossover of 30 line. Volume is still average. If counter closes above 4.70 then the pattern will be confirmed.
Strategy 1 : Buy RPOWER if trading at 4.70 or above during 3- 3.25 p.m. with stop loss of 3.95 Target open
Strategy 2 : Those who want one more confirmation can wait for CCI crossover...
I think, RPOWER has been doing a large WXYXZ since ATH. I could be very well wrong though. Its just my opinion. Found a nice complex corrective structure throughout the movement. Ofc, you can also find an impulsive one , downwards which would then mean mayhem! But i'm not too confident with that.
Also, if you look at the big descending wedge, you can see that it...
i personally do not trade in such companies but its just when i came across the charts , i thought its a good chance to get easy 3/5% intraday trade ! , dual bottom followed with an rsi divergence ...
Macd line crossover, stochastic turns from oversold region in weekly chart then Macd line crossover in daily chart. These indicators will help to breakout the triangle pattern. Can buy at CMP for the first target range(47-50). If closes above 49.5, it may reach the second target range of (60-63).
Target: 47-50
Stoploss: 38.60 on closing...
