REC Ltd - Breakout Opportunity

Date: 3-Apr-2024
Rating: Buy - Positional Trade
LTP: Rs. 474.05
Targets: (1) Rs. 492 --> (2) Rs. 524 --> (3) Rs. 591
SL: Rs. 444

Technical View:
• RECLTD is in its primary uptrend since Jul-2023 and was recently going through it's secondary downtrend.
• After touching the high of 524 on 8-Feb-2024, it has retraced 21% to 414.55 level.
• RECLTD has broke out from its secondary down trend on 3-Apr-2024 with higher volume.
• RSI has crossed over 50 on 1-Apr-2024. MACD has crossed 0 on 3-Apr-2024.
• Looking strong to start a new swing from here.

Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.

تعليق:

30-Apr-2024
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LTP: Rs. 507.15
REC 9.54% up on 30-Apr. 1st target of Rs. 492 reached. 7% up from suggested level.
NEXT TARGET: Rs. 524.

تعليق:

2-May-2024
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LTP: Rs. 553.90
REC up 9.22% again on 2-May. 2nd target of Rs. 524 reached. 17% up from suggested level.
NEXT TARGET: Rs. 591.

أغلقت الصفقة: تم الوصول للهدف:

7-May-2024
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Chart is looking weak. Closing the call to save profit.
LTP: 507.05
P&L: +7%