Stock has struggled to give closing on these levels but has finally given in today's session. this is another play to capitalize on PSUs rerating theme. Stock can show some good aggressive bullish move from here so a long position can be taken keeping the levels mentioned on charts in mind.
1. We started with Daily chart to find the bias (buy/sell) & we found it is an uptrend move with price at trendline.
2. We changed to 4H and 2H chart frame to check any king of buyer's entry or green candle forming. (Able to spot 2 green candles)
3. We changed back to Hourly and later 30 Min chart to mark the key zones in short-term basis.
The company is...
Formed a triangle + Nearby Fibo level + Also got supported by EMAs
The Indicator Used:
1) TE-REKAB - Proprietary Indicator
Blue Candle: Selling Divergence
Yellow Candle: Buying Divergence
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The analysis is my POV, hope you got bucks in your pocket to...
RCF weekly chart shows inverted Head and shoulder pattern. Can buy once weekly closing is above 55 for up move i.e. wait for the breakout. Can buy at cmp and can accumulate in dips.
Note: I am just a beginner. This chart is for learning and educational purpose only. Kindly invest based on your research and analysis. Do not forget to give a like if you find this...
- The Fibonacci ext. shows a target of 1.618, i.e. around 170. Usually, movement of price to 1.618 is faster than the rest of the levels.
- BEL trades in an uptrend.
- It broke yearly resistance (in Jan 2021) and is now showing more upward movement.
Buy now and sell at 146 for swing trade and ~170 for positional.
Stock has given a breakout over it's neckline of the inverse head and shoulders pattern, with high volumes and buying crossovers on various oscillators. Stock looks to be in uptrend and buying will remain intact. Pitch right in and go long with the mentioned stop-loss, for the mentioned targets.