Rec Ltd. has moved out of the symmetrical triangle suggesting short-term bullish reversal.
The stock rise was accompanied was rise in the volumes.
On the monthly charts, it is trading above the previous months' low, indicating buying at lower levels.
On the daily charts, prices are comfortable placed above the short-and medium-term moving average. Considering above technical studies, we believe the stock could trade with positive bias. It is likely it could extend current rebound up to 185,200 &213. Bias would remain positive until it trades above 157. Traders could consider buying at current levels and 165.
Comments
Post a Comment