Ratnamani Metals & Tubes Ltd.
The stock price formed Candlestick doji pattern.
Technically Price traded with in 100 points in this week, where 1180 -1200 re should consider as weekly high and resistance and 1088 should consider as intraweek low and support.
Breakout of this mentioned support and resistance zone expected to unfold fresh momentum
This is stock is currently in accumulation phase, one can buy on every dip. it is holding 200 DMA for the last few weeks. we can buy at 200DMA levles and hold it for long term.
recently kotak and l&t have been buying from open market into this scrip also supporting the theory of accumualtion..
disclaimer... not an investing/tracking recommendation
Ratnamani Metals is poised for a much awaited weekly break-out..Yes you heard it right a weekly breakout in accordance with RSI break-out. Perfect Recipe to own this stock for healthy gains .CMP 800;would recomend to buy between 788-800 Stop loss would be 760 and Target could be anywhere between 880/900.
Massive consolidation pattern in ratnamani on daily time frame. We could get a massive rally coming in this one. Will be an excellent buy on the pull back.
