RCF trade ideas
RCF_ DailyRashtriya Chemicals & Fertilizers Ltd. is an Indian central public sector undertaking under the ownership of Ministry of Chemicals and Fertilizers, Government of India. It. produces chemical and fertilizers. It is based in Mumbai. RCF is fourth largest government owned-fertilizer-producer in India.
Only for Educational Purpose.
RCF Long at 102Initiated Long for RCF for 6 months to 1-year time frame
RCF made a cup and handle pattern, broken trend line and resistance, and retested and formed a green candle on daily TF.
Last resistance 112, once it is broken with volume and sustained for a week, can see next level 150 and then it 200+
It is a dividend-paying stock so I'm gonna accumulate it if any dip comes.
Fundamentals are good, though PSU stock expecting fertilizer stocks to perform in near to mid-term
Rashtriya Chemicals & Fertilizers Ltd.*Rashtriya Chemicals & Fertilizers Ltd.*
Rouding Bottom Pattern: Monthly Basis (Price/Vol. BreakOut)
Cup & Handle Pattern: Weekly Basis (Price/Vol. BreakOut)
*Multi-Year Price Trendline BreakOut Possible. Good Upside THEN.*
*With Increase in Price, Trail Stop Loss*
*Book Profit as per Your Risk Appetite*
*Fundamentally Strong Company*
PSU (75% stake: GOI). Engaged in Manufacturing/Marketing of Fertilizers/Industrial chemicals.
Improving Qtrly/Yrly Sales & Profitability.
Improving Leverage. Improving RoA/RoE/ROCE since FY18
Sharp Upside in Ops. Cash Flow. Better WC Cycle.
FII stake increasing since Mar'21
*Concern:*
Regulatory risks, Agroclimatic risks, Commodity price cycles, exchange fluctuations & potential reduction of import duty.
*Do Your Own Research as Well. This is Just an Opinion.*
Your Opinion may Differ and is Respected.
Happy Investing :)
Rashtriya Chemicals And Fertilizers Limited (LONG)Good volume seen
taking support at 200 EMA
broken above resistance line and took support
Buy 71-72
SL 68
TGT 80 -87
please do correlate by yourself also on charts. This is for educational and paper trading purpose only. Please consult your financial advisor before investing.