Chart Idea – RBL
Overview: – By analyzing the daily technical chart, we can see that from the last couple of days bulls are playing at the front foot and dominate the bears. Yesterday bulls made a high 241.40.
From a technical perspective, we can see that three white soldier candlestick price pattern has been formed on the weekly along with the monthly chart which is providing us a bullish signal and generating further bullish signal. The MACD and RSI are also favoring the bulls.
Based on the chart and study, above we would suggest that traders may go for buying above 246 for target of 300 and 310 level with strict stop loss below 224 level on closing basis.
Above the free chart, the idea is only for education/knowledge purposes. Kindly read disclaimer on our website before trading / investing in the same.