It has got all the ingredients for good up move. It has made golden cross over at 37, out of the strongest bearish shadow formed due to the previous high and has crossed the strongest ascending resistance line which has turned into a strong support. Hold on with a support at 44.
RAJOO ENGINEERS LTD
Stock on monthly chart formed Cup & Handle pattern
Also trading at resistance zone
Good to buy at CMP or above 40 levels for Swing targets of 50/60/100 levels
Also Risk Reward ratio is favorable
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Note:
Above levels are for education purposes only
Do your own analysis before taking any trade
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Duration: 5 weeks for 20% upside potential
Consolidation breakout
weekly and daily macD buy signal generated for long term as well as short term duration
Plan A- buy above 24 or safe side above 25.50 %0% qty and rest add in dip till 20
Plan B- if market show correction than buy around 20 if it takes support.
