Rashtriya Chemicals & Fertilizers Ltd. (RCF) stock is showing promising technical setups as it consolidates near critical resistance. With strong price action and a trendline acting as support, the stage may be set for an upward breakout.
Key Levels and Setup
๐ Support Trendline: The stock has consistently respected an upward trendline starting from โน155. This serves as a strong base for further price action.
๐ Immediate Resistance: โน183-188 is the immediate level to watch. A breakout above this zone could trigger significant bullish momentum.
๐ Upside Targets:
Target 1: โน205
Target 2: โน240
๐ Stop-loss: To manage risk, a stop-loss can be placed below โน175 (near the base of recent consolidation).
Trading Plan
Breakout Confirmation: Look for a daily close above โน188 with volume to confirm the breakout.
Retest Entry: If the stock retests โน188 as support, it could be an ideal entry point for a low-risk trade.
Volume and Momentum
Watch for an increase in trading volume as the stock approaches โน188. High volume during the breakout will strengthen the bullish case.
โ ๏ธ This is not financial advice. Always perform your own analysis before entering any trade.
๐ฌ Do you think RCF will reach โน240? Share your thoughts below!
๐๐ #RCF #TechnicalAnalysis #StockBreakout #TradingSetup
Key Levels and Setup
๐ Support Trendline: The stock has consistently respected an upward trendline starting from โน155. This serves as a strong base for further price action.
๐ Immediate Resistance: โน183-188 is the immediate level to watch. A breakout above this zone could trigger significant bullish momentum.
๐ Upside Targets:
Target 1: โน205
Target 2: โน240
๐ Stop-loss: To manage risk, a stop-loss can be placed below โน175 (near the base of recent consolidation).
Trading Plan
Breakout Confirmation: Look for a daily close above โน188 with volume to confirm the breakout.
Retest Entry: If the stock retests โน188 as support, it could be an ideal entry point for a low-risk trade.
Volume and Momentum
Watch for an increase in trading volume as the stock approaches โน188. High volume during the breakout will strengthen the bullish case.
โ ๏ธ This is not financial advice. Always perform your own analysis before entering any trade.
๐ฌ Do you think RCF will reach โน240? Share your thoughts below!
๐๐ #RCF #TechnicalAnalysis #StockBreakout #TradingSetup
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.