Rane Brake Lining Ltd.
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Market insights
Rane Breaking monthly chart patternRane Breaking monthly chart pattern making higher high higher low after correction of all time high of 1450.
now making bullish pennant chart pattern. entry can be made after closing above 1090.
only for educational purposes.
Rane Brake Lining - Monthly Chart - Ascending Channel - LongRane Brake Lining Ltd. (NSE: RBL) moving in a clear Ascending Channel with support at the bottom of the channel retested multiple times as shown in the chart.
The Price has again bounced after touching the bottom of the channel and RSI has a strong upward trajectory.
Key Points:
Ascending Channel: The stock has been trading within a well-defined ascending channel for several years. The price recently bounced off the lower boundary, affirming strong support at this level.
Key Support Levels: The chart highlights multiple instances where the stock has found strong support at the bottom of the channel, reinforcing the robustness of this upward trend. Each bounce off the lower boundary has led to significant upward movements.
Relative Strength Index (RSI): The RSI is trending upwards and currently stands at 63.9, indicating bullish momentum.
The price has also broken above the trendline on Weekly timeframe as shown above.
Disclosure: Invested at 960.15
Disclaimer: This analysis is for educational purposes and should not be considered financial advice. Always conduct your own research before making any investment decisions.
Brake Linings, Disk Pads, Clutch Facings, Stocks given BreakoutHello everyone, i hope you all will be doing good in your trading and your life as well. I have brought another monopoly stock which has highest market share in brake lining, disk pads, clutch facing, this company works also for Railway Brake Blocks. Stock name is Rane Brake Lining (RBL) is part of the Rane Group of Companies, a leading auto component group based out of Chennai. RBL manufactures friction material products such as Brake linings, Disc pads, Clutch facings, Clutch buttons, Brake Shoes, and Railway brake blocks.
RSI AND MACD IS SHOWING BULLISH CROSSOVER
STOCK HAS TAKEN SUPPORT OF LONG TERM SUPPORT LINE SINCE IT MADE FIRST LOW AFTER DEBUTING IN MARKET.
BREAKOUT GOT SUPPORTED BY GOOD VOLUMENT INCREAMENT ON DAILY, WEEKLY AND MONTHLY CHART.
Market Cap
₹ 775 Cr.
Current Price
₹ 1,003
High / Low
₹ 1,093 / 643
Stock P/E
18.8
Book Value
₹ 364
Dividend Yield
2.49 %
ROCE
20.5 %
ROE
15.2 %
Face Value
₹ 10.0
Industry PE
33.1
Debt
₹ 0.63 Cr.
EPS
₹ 52.1
Promoter holding
70.9 %
Intrinsic Value
₹ 830
Pledged percentage
0.00 %
EVEBITDA
9.95
Change in Prom Hold
0.00 %
Profit Var 5Yrs
2.02 %
Sales growth 5Years
5.16 %
Return over 5years
12.0 %
Debt to equity
0.00
Net profit
₹ 40.3 Cr.
ROE 5Yr
13.8 %
Profit growth
23.1 %
Disclaimer:- Please always do your own analysis or consult with your financial advisor before taking any kind of trades.
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RBL for 25%Rane Brake Lining (RBL) is part of the Rane Group of Companies, a leading auto component group based out of Chennai. RBL manufactures friction material products such as Brake linings, Disc pads, Clutch facings, Clutch buttons, Brake Shoes, and Railway brake blocks
RBL: Forming rounding bottom patternRBL is looking good on weekly time frame. Stock is forming rounding bottom pattern. Keep on radar.
RBL ( Rane brake Lining)Consolidation and sideways, suggesting strength and accumulation. Short to midterm target 1200. It will zoom up once daily closing is above 885
RBL: Showing buying strength from supporting trendlineRBL is looking good on weekly time frame. Stock is reversing from supporting trendline. Keep on radar.
RBL: Triangle pattern breakout on monthly time frameRBL is finally coming out of consolidation from triangle pattern on monthly time frame. Can be a good investment opportunity. Keep on radar for closing.
RBL: Keep on radar for triangle breakoutRBL is consolidating & forming triangle pattern on monthly time frame. Keep on radar for breakout. Stock is testing patience since long.
RBL: Keep on radar for today closingRBL is on the verge of triangle breakout. Keep on radar for today closing.
RBL: Attempting breakout on monthly time frameRBL is finally attempting to break triangle consolidation. Can be a good investment if close above breakout levels. Keep on radar.
RBL: Attempting triangle breakout on MTFRane Brake is trading near triangle breakout on monthly time frame. Stock is testing patience since long. Keep on radar. Seems good accumulation is going on.
RBL: Consolidation on MTFRBL is consolidating since long on monthly time frame and forming symmetrical triangle. Keep on radar for breakout. Consolidation before breakout offers good risk reward. RBL is testing patience since long.
RBL: Symmetrical triangle formation on MTFRBL is consolidating in triangular pattern on monthly time frame. Keep on radar for breakout. Tomorrow is monthly closing also.
RBL: Inching towards breakout on larger time frameRane Brake Lining is looking set to break on monthly time frame. Keep on radar. Stock is consolidating in triangle pattern since long.
RBL: Consolidating in triangle pattern on monthly time frameRane Brake Lining is trading near triangle breakout on monthly time frame. Keep on radar for breakout.
RBL: Inching towards breakout on monthly time frameRBL is looking good on monthly time frame. Stock is trading near breakout level. Today Company has also announced descent results for the half year ended Sept'23. Keep on radar.
Rane Brake Lining: Inching towards breakout levelRane Brake Lining is proceeding towards triangle pattern breakout. Keep on radar.
RBL: Consolidating in symmetrical triangle pattern on MTFRBL is looking good on monthly time frame. Stock is consolidating in triangle pattern and trading near break out level. Keep on radar.
RBL: Forming symmetrical triangle pattern on MTFRBL is consolidating in triangle pattern on MTF. Keep on radar for breakout. Rane Group is looking in good momentum.
Rane Brake Lining: Consolidating near breakout retest levelsRane Brake Lining is looking good on weekly time frame. Stock has recently given breakout and seems retest has also been done. Stock is testing patience as getting consolidated. Keep on radar. Rane Group stock are doing well.
RBL: Breakout retest opportunityRane Brake Ltd is offering low risk opportunity. Keep on radar. Rane Group is outperforming from past few weeks.
