This is only for an educational purpose. In this i provides price action and chart pattern and also RSI divergence confirmation.
and also entry and T1 , T2.
REC Ltd has already tested its pre-covid highs and this is a very good time to enter the stock as it has retraced to its crucial support of 140 levels.
I am a authorized analyst so this is not a recommendation to anyone just my analysis
On daily time frame, line chart is showing pattern repeat. If the share gives a positive candle it could be buy signal and the pattern could be followed and show level of around 167. And the share also has a good support at price near to 145 which would help in reversal but if it...
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I will buy RECLTD because :
It has been taking support at the trend line .
It has been consolidating and give big move soon.
So will be looking at buying opportunities.
If it breaks the support look at shorting
Entry : 132/129
Target : 155
Stop loss : 125
