Home
Explore
My Portfolio
Chats
Notifications
šš”ššāš¬ šš”šš§š š¢š§š š¢š§ šš”š¢š¬ š¦š¢šššš© ššš š¬ššØšš¤?ā
š BSE PSU index remains in a strong up trend forming higher high-low in all time frame and has generated a breakout above multi-year highs since 2014 indicating a structural turnaround
š Within the midcap PSU stocks, REC Ltd looks interesting as it has registered a breakout above a falling supply line joining highs of October 2021 and August 2022 signalling end of the corrective phase and resumption of up move
š The share price of REC has remained in a range for over a decade. With PSU theme outperforming and the price chart indicating strong upward momentum we expect the stock to resume its uptrend thus offering fresh entry opportunity
š The base of the recent consolidation is placed at the 52-week EMA (currently placed at 99 levels) highlighting an overall positive price structure
#ICICIDirect #TechnicalAnalysis
š BSE PSU index remains in a strong up trend forming higher high-low in all time frame and has generated a breakout above multi-year highs since 2014 indicating a structural turnaround
š Within the midcap PSU stocks, REC Ltd looks interesting as it has registered a breakout above a falling supply line joining highs of October 2021 and August 2022 signalling end of the corrective phase and resumption of up move
š The share price of REC has remained in a range for over a decade. With PSU theme outperforming and the price chart indicating strong upward momentum we expect the stock to resume its uptrend thus offering fresh entry opportunity
š The base of the recent consolidation is placed at the 52-week EMA (currently placed at 99 levels) highlighting an overall positive price structure
#ICICIDirect #TechnicalAnalysis
