RKEC - DOUBLE BOTTOM FORMATION WITH A BREAKOUTHi All,
THis idea is about RKEC Projects Ltd
Fundamentals
Mkt Cap - 308 Cr
Stock PE - 15
ROE - 12.5%
ROCE - 15.5%
Mkt Cap/Sale < 1
D/E - 0.83
Quick Ratio - 1.09
RKEC Projects Ltd is in the business of Civil and Defence Construction
Technical Analysis
As the chart depicts, the price went for a double bottom formation and give a contraction of more than 70% while forming both bottoms.
It has given a successful breakout and first resistance has been marked. This trade can continue till next results as it could give a surprise being in a sector which is having strong tail winds.
Happy Trading,
Thanks,
Stock-n-Shine
RKEC Projects Ltd.
No trades
No trades
In-depth trading ideas
multi year breakout? thoughtsCompany is getting its orders through government tenders. It has completed 104 Projects amounting to Rs. 2267 Cr. Currently, it is working on 8 projects amounting to Rs. 1578 crore. It has an unexecuted order book of Rs. 1015.09 crore which is to be executed in 2-3 years
hopefully a big rally above 140+
stock nearing ipo high
planning for an entry above 140s
RKEC PROJECTS:Likely Triplre Bottom B/OUTRKEC PROJECTS: Trading at around 93 and has formed a nice triple bottom pattern in the long term weekly chart. It s also at the verge of bouncing from the channel at 93.
In the event of the stock holding at 90+ levels ,Triple bottom & channel breakout suggests a move towards 100+
RKEC Again At Your Finger Tips✅Sharing again and again
A 💥GEM💥 for my followers
U know our first entry @62 and it made a high of 116
Now the time for re-entry
Cmp 84
Trgt 200++
U can check the reasons why i shared it(check my previous rkec chart)
Study-study-study
Then invest
Opportunity at your finger tips😋study
Thanku
Like-Comment-Support🥰
RKEC SIMPLE PRICE ACTION CHART🎯All Studies mentioned in the chart💰
Buy @60-63 range
Strict sl below 55
Reasons for selecting this stock ✔ ✔
✔ Something cooking in the chart.Can see Ascending triangle in the chart.
✔ Infrastructure developing company,mainly involved in marine infrastructure development.
✔ One of the main cmpany which is involved in marine infrastructure activities.
✔ Gradually increasing Y-O-Y profit.
✔ Good consolidation with delivery volume.So, can see a breakout at anytime.
About the company ✔ ✔
RKEC Projects is engaged in the business of Civil Works and specialized in Marine Works, Construction of Roads, Buildings, Bridges& Fly overs, Survey works under Unmanned Aerial Systemsetc.
Thank you🧡
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