Simple analysis No Confusion! I have marked levels and targets on charts and i hope they are self explanatory, looking at the volume build up in this scrip it should easily close above 151.95(monthly time frame candle). Looking at the financials of this scrip, RCF had significantly reduced their Debts from past few years, this looks very attractive for investors and as per price action and Volume build up this stock and easily rally above the levels marked in the chart, its looking good for short term investment for a period 1 to 1.5 years. Analyze as per your view and invest accordingly for best returns.
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Breakout is confirmed in monthly timeframe, its previous high was 150.45 and the candle has closed at 151.95 so its confirmed breakout and one can plan to trade as per the levels
151.95 - 31.60 = 120.3 151.95 + 120.3 = 272.6 first Target. 272.6 + 120.3 = 372.6 second Target.
jeeteshjain9999
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@rareBear2423 why 272.6 plus 120.3 is added ..
PinakaTraders
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@jeeteshjain9999, Difference between High and Low of Range is added to higher levels to derive targets
jeeteshjain9999
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@rareBear2423 kindly guide on this
girishgandhi2502
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1st target time frame
PinakaTraders
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@girishgandhi2502, there is no timeframe for targets, in any timeframe if the stock reaches the value you can exit or carry further as per your risk apetite.
151.95 + 120.3 = 272.6 first Target.
272.6 + 120.3 = 372.6 second Target.