RGL Global Ltd. Base Breakout!Analysis of Renaissance Global Ltd (RGL)
Technical Overview:
Base Breakout: Immediate resistance at ₹217.62.
Safe Traders: Wait for the ₹217–₹218 level to break with high volume and a strong Wide Range Candle (WRC) for confirmation.
Entry Level: ₹205.77.
Stop Loss (SL): ₹179.27 (12.88%).
Target 1 (T1): ₹251.60 (+22.28%).
Target 2 (T2): ₹297.10 (+44.45%).
Risk-Reward (R:R): 1:1.73 for T1, 1:3.45 for T2.
Technical Highlights:
Volume: Significant increase, indicating accumulation.
RSI: Gaining strength, showing bullish momentum.
Fundamental Overview:
Market Cap: ₹1939 crore.
P/E Ratio: 26.2 (compare with sector P/E for evaluation).
ROCE: 8.25%, reflecting mediocre efficiency.
Fundamentals aren't highly attractive but technicals suggest good potential.
Key Risks:
Sector Comparison: Evaluate P/E and ROCE against industry peers.
Breakout Strength: Ensure price sustains above ₹217–₹218 with robust volume for safer entry.
Disclaimer:
This analysis is for educational purposes only and not financial advice. Trade based on your risk tolerance.