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RITCO LOGISTICS LTDRITCO LOGISTICS LTDRITCO LOGISTICS LTD

RITCO LOGISTICS LTD

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RITCO trade ideas

Key Support / Resistance Breakout - Swing TradeDisclaimer: I am not a Sebi registered adviser. This Idea is publish purely for educational purpose only before investing in any stocks please take advise from your financial adviser. Key Support & Resistance Breakout. Stock has give Breakout of Resistance level. Keep in watch list. Buy above the high. Suitable for Swing Trade. Stop loss & Target Shown on Chart. Be Discipline because discipline is the Key to Success in the STOCK Market. Trade What you see not what you Think.
NSE:RITCO
by AnsariTV
Ritco Logistics Ltd. presents a potential positional trade.Key Elements: Entry: Around ₹330.50. Stop Loss: Around ₹307.65. Target: Around ₹374.70 (upper range of the highlighted green box). Pattern: The price appears to be in a descending triangle pattern, which typically indicates consolidation with potential for a breakout. Given the price action and narrowing range, a breakout to either side could be expected. Trade Idea: Buy Entry around ₹330.50, if there is a breakout above the triangle. Stop Loss should be placed just below ₹307.65. Target is set at ₹374.70, giving a good risk-to-reward ratio if the trade moves in the anticipated direction. Indicators: The chart also includes Exponential Moving Averages (EMA) for periods 8, 13, and 21, which seem to be flat, indicating sideways momentum, but could signal the start of a trend after the breakout. Notes: Ensure to monitor volume during the breakout for confirmation. A significant increase in volume could reinforce the breakout’s credibility. As this is a positional trade, it may take some time for the price to reach the target level. This is just an idea based on technical analysis, and you should consider risk management and other factors before making the trade.
NSE:RITCOLong
by RajputAmarjit
RITCO- Rectangle Pattern and Case Study of Cup and Handle PatterBreakout Chart to Watch: NSE:RITCO 287 1. Cup and Handle Breakout (Case Study): Time Frame: December 2022 - July 2023 Breakout Level: 195 Outcome: Successful breakout to 292 levels Gain: 50% Explanation: RITCO recently experienced a notable cup and handle pattern breakout, characterized by a robust move from the breakout level of 195 to 292. This gain of 50% was supported by strong volume, indicating significant market interest. 2. Current Consolidation within Rectangle Pattern: Presently, the stock is undergoing consolidation within a rectangle pattern, formed over a six-month period from July 2023 to December 2023. This pattern is defined by a support level around 217 and a resistance level near 290. 3. Upside Movement Indicators: Recent price action reveals attempts to ascend, supported by a surge in both volume and price over the last 15 days. Bullish marubozu candlesticks on the chart signify potential upward movement. 4. Key Breakout Level: A crucial level to monitor is the 290/300 range. A breakout and sustained trading above this level would mark an all-time high breakout, potentially paving the way for substantial upside in the near term. 5. Anticipated Upside Targets: Upon confirming the breakout, the stock may target significant upside, potentially reaching levels in the range of 350 to 400. This projection is contingent on sustained strength post-breakout. 6. Consolidation Scenario: Conversely, if the price encounters resistance and fails to establish itself above the breakout level, a consolidation phase within the rectangle range of 293 to 217 may transpire. 🚫 Disclaimer: This analysis is for educational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor. It is recommended to conduct thorough research and seek advice from certified financial professionals before making investment decisions. #TechnicalAnalysis #Trading #Investing #StocksToWatch
NSE:RITCOEducation
by Mr_Chartist_