REC LTD - Hourly chart - Upwards channel movementREC LTD from the past few HOURLY trading sessions, has been in an upwards channel. Channel breakout / breakdown may give good up or down movement.
RECLTD trade ideas
REC potential Channel trade play...!!!REC
CMP 108.40
The stock is trading in a channel. Support at 100 odd levels. Target zone around 130 odd levels.
Can be looked as a buying opportunity at CMP and on dips towards 104.50 for Target of 122/130/144
Stop loss if trades below 98 on closing basis
Take care and safe trading...!!!
RECrec has broke the downtrend channel ..
cmp 123
first target 134
if it breaks 134 level
2nd target for 180 level
REC ltd Breakout above 200 EMAREC ltd showing strong bullish momentum, it is giving a Breakout of EMA200 & Strong resistance zone with heavy volume. Wait for retracement to EMA200 for Long Entry
Long in RECLTD on NSE (INDIA)This is the daily chart of RECLTD on NSE (INDIA). It looks good opportunity to go in for long position. Following observations have been made in forming the mentioned opinion for long position:
1. Price failed to make new low while retracing during 31st Aug 2018 to 28th Sep 2018
2. After retracing as mentioned in the preceding point, it reversed after testing key level of 78.6% on Fibo as shown on the chart.
3. There has been substantial consolidation during 1st Oct 2018 to 26th Oct 2018
4. There is a decisive breakout of symmetrical triangle on 29th Oct 2018 with rise in volume and surge in OI (Fut -Nov 2018 by 7.8%).
5. RSI indicates good momentum
In view of above, it looks a good scrip for long with possible targets of 120.5/131.85 which are resistances as shown on the chart. Stop loss could be 107.20 (below opening of breakout candle formed on 29th Oct 2018.
Happy trading !!! Kindly offer comments which will help all of us through cross learning
RECLTD Scrip for tomorrow. Anticipating some action here.
Two way trades. either it will break the trendline or get rejected from the trendline.
RECL IHNSCheck chart for details,
Disclaimer: Not responsible for your loss, consult your financial adviser before taking any positions
