Price action has formed double bottom and it is consolidating within small range. When the price breaks downward channel, we can buy above 185 with the stoploss of 182. Targets are 195, 204 and 214. Can take it for short term investment. Consult your financial manager before investing.
On request
Hello padiyaraa,
Can you please evaluate Rural Electrification Corporation Ltd. (RECLTD') on basis on Fundamentals analysis. I had done the same last year and own some shares of same. Since i am sitting on a good profit, my concern is that my evaluation may be wrong this time. I would like to discuss our evaluation just like Jindal Poly....
RECLTD: @ 189.9,
#1 Trading in ICHIMOKU Cloud.
#2 Volume much LOW Compare to 20 day AVG.
#3 Taking Support Long Trend Line.
#4 Retraced more than 23.6%
#5 Maximum Technical Parameters are OverSOLD.
LONG For Intra / Swing TGT:
@ 192.58
193.3, @ 194.2, @ 195.3, @ 198.4
Many more Plotted in Chart for Short term.
More Accumulating Level:
@ 187.3, @ 185.7 - @ 184.5...
I am looking to join the Part ,so i will go long with stop 186 till 215 then Looking to sell at 215 with stop of 225 for Target of 165
I am going to trade in Feature which is 6000 Qty lot , lets see what happens on Monday
Again this information is only for educational not to be taken as advise , trading feature involves high risk/ reward
Regards
Long if it goes above 225-230's for given targets around 1.618 -2.618 of wave 1.
My Elliot is not very strong yet so please correct me if I'm wrong in the wave count.
Thanks.
Stock made Doji candle on daily chart below Weekly VWAP level (Green dots ) as well as on 1 hr chart stock below last 3 days VWAP levels in Blue dots
Based on VWAP study stock looks week and providing shorting opportunity @ weekly vwap level of 216.8 with sl 220 for 210-208-204
The stock of REC Ltd has seen a big move since its low of 76.22 to the high of 216.25. A parallel channel has been drawn connecting its higher highs and higher lows.
One should note that the stock has recently breached its upper resistance line, but unable to sustain above the same. The stock may or may not try to touch this upper resistance line but there is...
The stock has been stuck in a broad range of 71-204 in the past few years. The recent rally has pushed the stock to the upper end of the trading range at 204-ish. Notice the selling tail in the current month candle. The spike in volume and the selling tail suggests that this *might" turnout to be an Upthrust or fakeout.
Before jumping to conclusions, it would...
Here, in the chart you can see how strongly it has approached previous resistance.
Note :
All my charts are for informational / educational purposes only .
I post ideas to share interesting setups forming in the market that might lead to generating new trading ideas for fellow traders and myself.
No buying or selling recommendations will be given or...
RECLTD is close to complete 5 wave structure started in early 2016. Ideally stock should reverse in 160-165 zone.
IF we look inside the 5th wave, the subwaves indicate that wave 5 is close to completion
Simple classical Channel short trade is possible. Stop Loss above the high made recently and target is open depending upon the patience of the trader however the target of Fib .618 to .786. level seems to reach quite easily.
It is been observed on daily chart that the price action previously formed a long big red candlestick indicating seller dominance in the price action who are pushing the price down. Today, it is also observed that the price action opens up high but the seller dominance put the prices down again, indicating further bearishness and dipping of prices.
Target:...
