REC’s inventory crossed over the resistance at ₹296 on Thursday. It additionally closed above ₹300-mark. The inventory, which confronted promoting stress within the second half of October, took assist at ₹260 final week and rebounded. The rally is strengthened by the breakout which occurred on Thursday.
REC’s share worth is predicted to understand on Friday. Therefore, members can contemplate this for intraday shopping for. Go lengthy on REC on the present stage of ₹302 and accumulate extra shares in case the value dips to ₹296. Place stop-loss at ₹288. When the inventory touches ₹310, tighten the stop-loss to ₹304. Exit at ₹315. On Friday, if REC’s inventory opens with a gap-up, await the value to average to ₹302 after which provoke the longs. Chorus from buying and selling if the inventory opens under ₹294.
(Be aware: The suggestions are based mostly on technical evaluation. There’s a danger of loss in buying and selling.)
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