Published on 23/08/2019 4:59:19 PM | Source: Choice Broking Pvt Ltd

Buy REC Ltd For Target Rs.153 - Choice Broking

Posted in Broking Firm Views - Short Term Report| #NBFC #Trading Report #Choice Broking #REC Ltd

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* On a daily chart, the stock has bounced back after taking a support of around 210.65 level which is 61.8% retracement level of its previous move from 196 level to 234.35 level which suggests a positive move in the counter.

* Moreover, the stock has bounced back from the lower Bollinger Band indicator which hints for a good upside move in the stock.

* Additionally, the stock has been sustaining above its 200 Daily Exponential Moving Average which shows a positive move in the counter.

* A daily momentum indicator RSI reading is at 47.82 level with a positive crossover which points out for a positive breath in the stock.

* Based on the above technical structure, we are expecting a good upside movement in the counter in few trading sessions.


Buy REC Ltd @143.20-142.00 Stoploss 137 Target 153


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