REC Limited broken its 15 days low and retracing from wave C. Good to short at 209 for target of 189.
Short on weakness for tgt of 148, 134 and 122
REC- Long at the Demand area. SL = 137.68 , Entry =139.08, Target = 143.39
BOOK PARTIAL AT 1:1
Similar set up in VIJAYA BANK
1.) 50MA is crossing 100MA
2.) It has broken resistance at 173 convincingly
Looks all set to touch 198
REC has formed 7 year long corrective flat...which is in ending stages.....
Great descending triangle setup. Watch out for an explosive breakout.
There's been accumulation against the selling from removal in MSCI-0.77% index EEM-1.80% .
multiple springs from 162