The india railway sector most of the stcok in outperform the nifty 50, Only IRCTC is underperform the nifty50 return, the structural change in the india railway stock in the recent year, this is show in the chart. i am bullish in the this sector.
Railtel showing signs of trend reversal Above 105 can act as a confirmation Head and shoulder breakout coming soon Also has broken the down trend line
Railtel Corporation of India Limited is a Public Sector undertaking under Ministry of Railways. Railtel is at the forefront of providing nationwide Broadband Telecom and multimedia network in all parts of the country in addition to modernization of train operations and administration network systems. Valuations are decent as the stock trades at a PE of 16....
Please find the SETUP on the chart..............................................................
buy in demand zone only fundamentally stock is good can give you 10-15% profit easly
Railtel retesting the breakout and on strong support area to buy for 23% target with SL of 7%.
Expecting this pattern to form and stock may find some hurdles at mentioned levels. Watch and take a position.
It's in consolidation period. Seller become weak - just observe it - if stays positive for few days than definitely buy.