NAM-INDIA long viewNAM-INDIA (RNAM) looks good for further upside as per Elliottwave counts.
View are for educational purpose only.
RNAM
NAM_INDIA LONG VIEWNAM-INDIA (NIPPON LIFE INDIA ASSET MANAGEMENT LTD) looks good as per elliottwave counts.
Use your own analysis before taking trade.
Views are for Education.
Nice RNAM Chart on weeklyFor learning purpose if you look at the weekly chart - there was consolidation and then it gave breakout on upside.
It closed above the 50 EMA from the consolidation range and then rally continued further.
It was good opportunity for buy
There was rejection from 50 EMA on weekly chart (see very long wick), next or next to next green candle was also good opportunity to buy. You can also go into lower timeframe and look at the buying opportunity little early.
Currently also it is in correction phase, so we need to wait for buying opportunity. It may go down further till 286 or may be reversed to upside. Need to wait for the chart patterns to form for buying opportunity.
NSE: RNAM Oversold towards 113NSE: RNAM Oversold towards 113.
Falling since beginning, with group company bankrupt, effect might be seen on this stock.
Very oversold. Short bounce back is expected, but will not last long
Price might be pushed towards 113 if consistent close below 134 level on daily chart happens
relcapital long set up 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 ...
Possible trend change in RNAMDear traders,
Since its listing in 2017 RNAM has corrected substantially after achieving a high of 335.
Finally I see a break in the trend by the strong bullish candle on 24/7. It has continued to make higher high since then.
We can look for a Long opportunity if it breaks and closes above 272.40 (higher than Fibonacci 50%) with immediate support at 255 lvl (Fibonacci 38.2%). It has already covered the
T1 - 284, T2 - 303
