RCF Cmp 116.25 dated 5-7-2023
1. Ascending Triangle BO @ 117
2. RSI Divergence
3. Higher Lows
4. Volume BO
Buy above 117.50 target 125-130-135-140 SL 108
It is just a view, please trade at your own risk.
In the Weekly Chart of RCF ,
we can see that; it is getting rejection at Cup & Handle,
Also, much selling is not happening ate Cup & Handle breakout Trendline.
Try a Simple 1:10 Trade with an Entry at 110 and SL as 107.
Book Profits at 140 and exit.
* Cup & Handle
* Breakout from contra trendline
* Decent volumes
* RSI just crossing 50
* Support taken (handle) at 101.40
* Targets 1. 115
2. 130
3. 140
* Stop Loss 99.50
* Monsoon period. High activity and focus.
* Good R:R
RCF has formed Reverse Head & Shoulder Pattern after long down trend. Can be added at current level around 110 with target of 125 and set SL at 103. This gives us risk to reward ratio of 2.17.
Disclaimer:
This idea is only for education purpose, Please consult your financial advisor.
I am not SEBI registered.
BEL has formed Reverse Head & Shoulder Pattern. Can be added at current level around 104 with target of 112 and set SL at 102. This gives us risk to reward ration of 2.28.
Disclaimer:
This idea is only for education purpose, Please consult your financial advisor.
I am not SEBI registered.
# RCF
1. Inverse H & S pattern
2. Price is respecting Horizontal S & R zones
3. TL BO
4. 50 EMA BO & Retest
5. Volume is above average
6. Close is above PDH 105.20
7. Close is above LMH 106.45
* Educational purpose only *
If you want to make money in stocks chose boring if you want excitement travel to a casino
RCF has broken out of decade long triangle & rise from Covid bottom is a clear impulse & this stock has already started Wave 3 so a 10% risk from here gives us a target of 300% rise a good RR trade.
I am not a SEBI Registered analyst charts shared for education purpose.
Strong stock:-
. Strong on 1 week And 3 months.
. High volume than 21 days average.
. Above 200 moving days EMD.
. Near 20% to 52 week high or all time high.
. Outperform nifty.
. Open interest needs to buildup in last 3 months data.
RASHTRIYA CHEMICALS & FERTILIZERS as per Day Chart Analysis
ABOVE 137 TARGET 140
For the last four sessions FII had been selling and DII only in Marginal Buying.
Hence tomorrow being month end expiry trade safely....
Happy Profitable Trading to All.
Advance Happy New Year 2023 wishes to all....
Stock Name - Rashtriya Chemicals And Fertilizers Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 145.
#This is not Buy and Sell recommendation to any...
