RITES trade ideas
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
#RITES #BANKNIFTY #NIFTY #NSE #TRADING #COVID19 #CANDLESTICKS #RITES
RITES Ltd.
CMP: 248.55
Target: 261 / 278 / 298
SL: 240
RITES: A TIME TO FALL DOWN, OVERBOUGH ZONE, RESISTANCE HINDRANCE
RITES LTD: STOCK STUDY
It is time to start of fall for RITES as it is following trending channels exactly.
Resistance level= 260
Support = 240-245
Possibility = Down Trend
