RCF Report

📆 Monthly Time Frame:

📍 Price Action: Price is currently at a major support zone.

🔄 Trend Analysis: Downtrend (Dow Theory) remains intact.

📉 Moving Average: Price is near the 50 EMA.

🔍 Analysis: Price is not strongly bearish but not yet bullish. This zone might indicate a potential trend reversal in the upcoming sessions.

📆 Weekly Time Frame:

📍 Price Action: Price is near the 200 EMA.

🔄 Trend Status: No strong bearish momentum.

🔍 Analysis: Price shows signs of potential reversal. We need to look for a bullish setup in lower time frames.

📆 Daily Time Frame:

📈 Key Candlestick Patterns:

🛠️ 12th Feb: Hammer candle with a low of 132.36.

🔄 13th Feb: Inverted hammer at bottom – possible bullish reversal signal.

📉 14th Feb: Bearish candle with good volume, but closing above 132.36, indicating bulls’ presence.

🔍 Analysis: The past three days' price action suggests buyers are defending the support zone.

⏰ Hourly Time Frame:

🛑 Double Bottom: Pattern with bullish divergence observed.

📊 RSI Status: RSI is below 40; we need a close above 40 to confirm bullish swing setup.

🔍 Trade Setup:

🛒 Entry: Upon RSI closing above 40 on the hourly time frame.

📍 Stop Loss: 132.99 (Hourly Closing Basis)

🎯 Target 1: 147 (Risk-Reward Ratio: 1:6)

🎯 Target 2: 162

⚖️ CMP: 135

Conclusion:
RCF shows potential for a trend reversal across multiple time frames. Confirmation of RSI above 40 in the hourly chart will provide a low-risk entry opportunity with attractive risk-reward potential. Patience is essential to let the setup mature for the best results.

📈 Recommendation: Wait for RSI to close above 40 in the hourly time frame and then consider entering the trade with the defined risk and reward targets.