Royal Orchid: Continuation of uptrendStock has given a breakout after a consolidation into a parallel channel. Stock is likely to move up towards the 310-315 zone in the coming weeks. Buy with SL of 275 and look for the tgt of 310-15.
Royalorchid
Royal Orchid Hotel on a multi year high... deserves a watch...The stock is on a multi-year high, closing above the level of 261 last achieved in February 2006.
Bullish candle formation on weekly chart with increasing volume and strong RS line.
On the upside, can expect target of 365 in the medium term. Might also see price retracement till the level of 204 if the momentum fails to sustain.
Strong support at 185-200.
Not a buy/sell recommendation. Do consult your financial advisor and trade with strict stop loss of 5-8%.
16 years high breakout in Royal Orchid Hotel16 years high as well as range breakout supported by Rounding bottom pattern breakout.
If breakout candle it is supported by volume in weekly chart then it could be much more stronger.
Stock has a potential to reach 440 level.
All time high was 261, now that level is broken.
For the further upside move stock has to close above 271 level with good candle and volume in a weekly chart.
235-250 Level must act as support now.
Ideal Stop loss will be 210.
This is just a view not a recommendation to trade. Do your own analysis before making any investment.
Share your opinion in the comment section.
NSE:ROHLTD
ROYAL ORCHID TARGET UPDATE 11-11-2021Look fresh in range 90-95 for upside 120/130 med term with SL 77..!!!
