LKP Spade : A Weekly Pick - Buy REC Ltd Target Rs. 122/127 By LKP Securities
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REC Ltd
* The stock has formed a rounding formation on the daily chart which is considered base building.
* The stock is showing signs of reversal from its previous support level of 112-110 where multiple bounces are visible.
* The stock on the lower time frame has given a breakout from a falling trend line breakout.
* The stock is likely to resume its upward momentum in the short term towards the level of 122/127
Buy REC Ltd @ Rs. 117-116 Stop Loss: Below Rs. 112 CB Target Rs. 122/127 Duration 1 Week
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