Rites has quite strong support in range of 260 So can be bought at 260-265 for target of 295 with closing SL of below 257 but as we cant tame the market so a close below 258 will open the gate for 238-240
Rites is ranging within the rising channel. Probability of price to reach at the lower ascending line is higher.
There is a momentum with railway stocks, IRCTC bumper listing plus RITES giving huge returns. The stock is now retesting with lower volumes and looking at the candles near the retest zone, one can safely assume that either the consolidation is going to happen or uptrend will continue. One can keep a stop of anything below 255-256
Buying above 270 closing may yield a gain up to 310 in intermediate term, if it shows bullishness
#RITES LIMITED INTRADAY 26.06.2019 DETAILS ON CHART
RITES IS EXPECTED TO GO DOWN TO LEVELS OF 275 / 265 AND 257, IN THE COMING WEEKS. IT IS BETTER NOT TO ENTER AT THIS LEVEL. STOP LOSS CAN BE MAINTAINED AT 284.
RITES LTD :- Perfect structure for cup & Handle pattern, lets see if follow & gives a breakout above its handle. CMP :- 273.80 Dt:- 27-nov'18 NSE:RITES
Simple and lucid. no complications involved. 320 could be retested. 250 a great buy if fundamentals are intact.
RITES look bullish now, which broke the resistance of 281. Can go up to 20-35 pts.