Rites ltd breakout in 15 chart as well as on hourly chartIt can achieve target of 410 intraday on monday, keep eye on it.
If hourly chart remains strong then we can hold position.
RITES trade ideas
Rites Making the right moves.RITES or Rail India Technical and Economic services is a leading player in the transport consultancy and engineering sector. Rites is a MiniRatna (Category-I) and Schedule 'A' Central Public Sector Enterprise under the Ministry of Railways. Negatives of the company is MFs are decreasing stake. Positives of the company are no debt, zero promoter pledge, improving annual net profit, improving quarterly net profit, FIIs are increasing stake. Dividend Yield of the company at is 5.23% at CMP. X/2 Entry in the stock can be taken after closing above 360. Second and Final Sip of X/2 can be taken in the company after closing above 378. Targets for will be 390 and 408. Long term target in the stock will be 436. Stop Loss in the stock can be kept at a closing below 300 Weekly closing.
RITES - Trendline BreakoutNSE: RITES is closing with a trendline breakout and retracement candle supported with volumes.
Today's volumes and candlestick formation indicates strong demand and stock should move to previous swing highs in the coming days.
The stock has been moving along the trendline support for the past few days which is indicating demand.
One can look for a 8% to 12% gain on deployed capital in this swing trade.
The view is to be discarded in the event of the stock breaking previous swing low.
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Disclaimer:
This is for educational purposes only.
Rites view for today 14th FebRites view only above 340
Breakout expectation
Follow strict risk rward and stop loss if u follow the level
Charts for Educational purposes only
Thanks,
V Trade Point
RITES
Breakout above 52 week high we may see 378 and 437
Trading above 10,20,50,100,200 EMA
Moved up with good volume
Rites Ltd Parallel Channel Breakout Lifetime High Break*Rites Ltd*
Time Frame : Daily
Observation:
*Parallel Channel Breakout
* Lifetime High Break
Resistance/Target: 452 510 567 605
Support: 359 339
BREAKOUT IN RITES1 = Stock has broke important trendline
2 = given breakout on weekly time frame
3 = stock is above moving averages
4 = stock has good buying volumes
our analysis is for educational purposes only
RITES LTD.NSE:RITES
Symmetrical Triangle formation is observed and breakout happened this week , looks good for a target of 425 , with favourable stoploss
a good R:R trade
BO from channelRites has BO from channel with good volumes, started moving late in the day - moved up 7% today. If the market is steady tomorrow, could reach the targets highlighted in the chart. This is an idea.
Long on RITESRITES taking constant support from 235-240 levels. Entry open above 250 closing which can take it to 265, 280. Keep closing basis SL below 235
RITES on a all time Very Strong Support.BUY! Easy Target 265 Rs.RITES Ltd, is an engineering consultancy company in Transport Infrastructure. (A PSU). It is on a very strong Support of 240 . A very sure target of 265. and has very good potential to even go to 300.
NO RIsk stock and it is the perfect time to buy this. BUY RITES.
Rites - Range Breakout Rites CMP - 272.05
Looking bullish in higher time frame. One can go for Intraday / Swing Trade setup with the following entry, exit & targets
Buy at or Above 272 / Stop Loss - 267
Target 1 - 275
Target 2 - 278
Target 3 - 281 / 284
Swing Targets - 315 / Stop Loss 244
Disclaimer: This is my view and for educational purpose only.
Symmetrical Triangle Breakout for "Rites"- Symmetrical triangle Breakout
- High Volume
- Support on 200 EMA
First Target 290-293
Second Target 320
