Just like PFC, REC is also giving a long breakout after trading in a triangle for more than 10 years. Ofcoz we can see there was a fake breakout in May 2017 and it moved into channel immediately afterwards. But this time around, the breakout looks more genuine. Again I expect it to go beyond 800 over the next few years. Great thing about stocks like REC and PFC is...
A stock which has enough and more visibility for growth going ahead..
Long above 200.50 with a stoploss below 190.
There is a wedge breakout. Its also a good name to hold for longer because of the dividend payout the company gives.. (Close to 7% div yield)...
sell from cmp to 170
sl close above 170.5
easy tg - 166.5
tg2 - 164
Disclaimer : This is my personal analysis for study purpose not intended for trading.
Buy from cmp to 165
sl close below 164.3
easy tg - 167.8
tg2 - 169.5
Disclaimer : This is my personal analysis for study purpose not intended for trading.
REC Ltd has given breakout above 125 levels which has been resistance since Jan'19.
Target 1: 140+ (short term)
Target2: 165+ (medium term)
Target 3: 270+ (long term)
SL: Daily candle close below 125 levels.
REC ltd touched an ATH of 168.05 on 3rd May 2017. Since, it has been correcting and rising, thereby forming an inverted H & S pattern on daily chart.
An entry after a close above 126.5 is recommended for assigned targets of 138 and then 165.
A stop Loss of 116 on daily closing basis is recommended.
how ever it has potential of breaking the channel
to touch other two targets.
this is for educational purpose ,
not any recommendation to buy and sell.
let us see after retracing it rises or not
to break the channel .
or its rally is done.
REC
T1- 135
T2- 161
SL - 96
Time frame - Monthly
Study - Symmetrical Triangle pattern (Continuation Pattern)
This chart is only for educational purpose.
Based on the recent market trends and technical indicators, it appears that REC shares have entered the overbought zone on both the daily and weekly charts. This suggests that the stock may be overvalued and could experience a potential downward correction in the near term.
Considering this analysis, I recommend considering a sell order for REC shares at a price...
