REC is looking bearish now. It has reached the top of the parallel channel. It is expected to start declining from here all the way to the bottom end of the track, it has been travelling into for over the years.
The scrip was witnessed a good bounce and now its registering some consolidation and the pattern is looking like a flag on a pole. Also price bouncing from 50% retracement of previous move. keep the scrip in radar
REC LTD is trading in an uptrend with consistent Higher Highs and Higher Lows. From past few days, price was falling and retraced till 128-127, which in past was a resistance area. As of now the price is retesting the resistance area as new support, and I expect a bounce from here as trend is UPTREND. On Daily Timeframe, we can spot a Morning Star Candlestick...
Stock Analysis: Recltd has formed flag pattern it is good buy around current level however it is expected to see bigger movement when it is cross the supply zone with given demand level as stop loss for the given target and percentage on the chart. Let's see Happy Investing!