It has been observed that the price action is consolidating within a downward channel. Now, the price action has reached to the support zone and also touching the support of the downward diagonal. On such zone, buying can be seen which shall further move prices up.
As per my analysis, RECLTD is undervalued at current levels. It is providing good investment...
Marked on the chart are identified Hanging Man candlestick pattern, we'll wait for confirmed weekly closing below same & step-in for opportunities.
if you have any queries regarding above idea or any other stock feel free to D'M
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ABOVE 160 RECLTD WILL ZOOM TO 170 AND AND 180 IS RESISTANCE WE CAN SEE CONSOLIDATION TARGETS BIG WITH STOP LOSS 140 AND PRIMARY TREND IS ALSO BULLISH SO HOLD IN CASH AND BUY IN DIPS FOR LONG TERM ONLY A MARKET CRASH CAN DESTROY THE CHART OTHERWISE THE STOCK IS GOOD TO GO.... MYSELF INVESTED INC ASH SINCE MANY YEARS HAS DIVIDEND PAYOUT IS GOOD..
Query - Invetment Purpose
REC _ weekly time frame Analysis
CMP 144.4 can buy near 125-115 - 50 % of investment
Balance investment can add near 80 - 90 Levels
Targets - 160- 180 -190- 220-250+
Time duration 1-2 Years
All levels are cash levels