Comments
The short-term outlook is bullish for Rashtriya Chemicals & Fertilizers (RCF). The stock has begun the week on a strong note by surging 5 per cent. Strong support is now in the ₹129-127. Intermediate dips towards ₹130 are likely to get fresh buyers in the market. Resistance is around ₹138. But the chances are high for the stock to break this resistance.
Such a break can take Rashtriya Chemicals & Fertilizers’ share price up to ₹145 over the next two to three weeks or even earlier than that. Traders can go long now. Accumulate on dips at ₹130. Keep the stop-loss at ₹125. Trail the stop-loss up to ₹135 as soon as the stock moves up to ₹139. Move the stop-loss further up to ₹140 when the price touches ₹142. Exit the long positions at ₹144.
(Note: The recommendations are based on technical analysis. There is risk of loss in trading.)
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.