RKFORGE CMP 640.(Only for Long Term Players). Stock is fundamentaly strong and posted good numbers in last quarter.In this falling situation we can add this to Portfolio.Risk Reward also good.We can see a sharp rally in coming days in this counter.
RKFORGE trade ideas
RKFORGE - Swing Long SetupEnter with Limit order placed at - 989.70
Target with Risk to reward 1:2 is 1178.6
Stoploss only when 1 day candle closes below the price - 874.25
Note: This is not any financial advice, this is for education purpose only
Darvas Box Strategy - Breakout Stock Disclaimer: I am Not SEBI Registered adviser, please take advise from your financial adviser before investing in any stocks. Idea here shared is for education purpose only.
Stock has given break out. Buy above high. Keep this stock in watch list.
Buy above the High and do not forget to keep stop loss, best suitable for swing trading.
Target and Stop loss Shown on Chart. Risk to Reward Ratio/ Target Ratio 1:1 & 1:2.
Stop loss can be Trail when it make new box.
Be Discipline, because discipline is the key to Success in Stock Market.
Trade what you See Not what you Think.
SWING IDEA - RK FORGINSRK Forgings , a key player in the forging industry, is showing technical indicators that suggest a promising swing trade opportunity.
Reasons are listed below :
850 Resistance Turned Support : The 850 level, previously a strong resistance, has now turned into a robust support level, indicating a potential floor for the stock price.
Bullish Engulfing Candle on Daily Timeframe : The recent formation of a bullish engulfing candle on the daily chart signifies strong buying pressure and potential for upward movement.
50 EMA Support on Daily Timeframe : The stock is finding support at the 50-day exponential moving average, reinforcing the bullish sentiment and providing a reliable support level.
0.382 Fibonacci Level Support : The price is bouncing off the 0.382 Fibonacci retracement level, suggesting a healthy pullback and resumption of the uptrend.
Volume Spike : A noticeable increase in trading volumes confirms the strength of the price move, indicating strong investor interest and participation.
Target - 1000 // 1100
Stoploss - Daily close below 810
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
RKForge - Narrow Range Ramakrishna Forgings Ltd. - NSE
Narrow Range in daily timeframe.
Increasing Relative Strength
Outperforming benchmark and sectoral index.
Disclaimer:
For educational purpose only.
Please do your own research before taking any trades.
Happy Trading!
RKFORGE potential breakout POSITIVE POINTS:-
Strong buying Force.
Trading in a narrow range.
High relative strength.
Took support from 50EMA & now above 20EMA.
Volume contraction & institutional footprints visible.
NEGATIVE POINTS:-
Overall market condition is not favorable for breakout trading. Key indices are near 50EMA, there could be a potential break down in the coming days. No follow through moves were seen in last few days.
Swing trading-Ramakrishna Forging52 W high breakout done & coming for retest
Entry- after 910 breakout
SL-698
Target-1250
RAMKRISHNA FORGINGS - swing trade Entry - above 928 hourly or daily closing candle
sl 883 -
tgt 1044, 1118
This is not a recommendation on buy/sell. Please consult your financial advisor before any investment.
Ramkrishna Forgins: Up move likely to startUp move probably going to start in Ramakrishna Forgins. As you can see that there was a Consolidation phase for a month and now the Entry signal has come. It is also in the ATL which is also giving 2nd level confidence of its UpMove!! Targets are High. Play according to your risk appetite.
Ramkrishna Forgings LtdTargets open
Entry zone 828 - 850 levels
SL - Trendline support
Fundamentals
Market Cap
₹ 16,255 Cr.
Current Price
₹ 899
High / Low
₹ 930 / 428
Stock P/E
47.6
Book Value
₹ 148
Dividend Yield
0.22 %
ROCE
18.7 %
ROE
17.0 %
Face Value
₹ 2.00
Price to book value
6.06
Intrinsic Value
₹ 396
PEG Ratio
2.05
Price to Sales
4.11
Debt
₹ 1,207 Cr.
Debt to equity
0.45
Int Coverage
4.03
Reserves
₹ 2,648 Cr.
Promoter holding
43.2 %
Pledged percentage
5.77 %
EPS last year
₹ 18.9
Net CF
₹ 129 Cr.
Price to Cash Flow
26.2
Free Cash Flow
₹ 34.3 Cr.
OPM last year
21.2 %
Return on assets
7.56 %
Industry PE
34.3
Sales growth
23.9 %
Short term monthly buyThe company has shown good YoY growth in Fundamentals and also an upside of 10-12% can be seen in the coming month.
RKFORGE - BULLISH SetupStock name - Ramkrishna Forgings Limited.
Weekly chart setup
Chart is self explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Master Score - B
Disclaimer: This is for demonstration and educational purpose only. this is not buying and selling recommendations. I am not SEBI registered. please consult your financial advisor before taking any trade.
Nice Daily & Weekly Breakout after consolidation of 10 monthsRKFORGE has been trying to break the Aug 2023 level.. but, was not successfull. Given the nice daily & weekly breakout with supporting volume can take it to 4 digits. High conviction.
#RKFORGE is breaking out of consolidation#RKFORGE
Stock made a nice run since Jun’22 and gave 5x returns; has been in consolidation mode since then for about 290 days.
Breaking out now with crazy volumes not seen in 2024. Looks good for more upside.
Measured Target for this is about 34% which is also the length of the consolidation range.
RKFORGE - breaking out after 6 months of consolidationRKFORGE on the daily chart is breaking out from its prior all time high level and with good volume too.
As long as we hold 800 on a daily close basis, expecting below targets
T1 - 900
T2 - 950
T3 - 1000
within the next 6 months
SL < 800
CMP 842
"Massive Opportunity: RK Forge Breaks Free from Triangle PatternRK Forge has just broken out of a triangular pattern, setting up for potential gains. If you're looking to enter, consider placing a stop loss around 12% below the current market price to manage risk effectively, and aim for a trade with a minimum risk-reward ratio of 1:3 or 1:2.
Channel breakout on RKFORGERKFORGE broke out of channel pattern on daily chart. Multiple support and resistance were tested prior to breakout. Also the breakout candle is a bullish engulfing breakout candle that engulfed prior three trading session candles. Moreover the volume on breakout day was huge. This indicates bulls are out here in force. Stop loss can be held just below the resistance line with target the width of the channel. Entry can be had just above todays high. Risk reward on this trade is not great. You could aim for 1:1.5 or 1:2 depending on how the trade goes.
Hope you like this idea. If you like please boost this idea or leave a comment below on what you think. Otherwise, happy trading :-).
SWING IDEA - RAMKRISHNA FORGINSConsider a compelling swing trade opportunity in Ramkrishna Forgings Limited , a leading manufacturer of automotive components in India, catering to both domestic and international markets.
Testing Strong Resistance Zone : The price range of 750-770 has been tested multiple times and is currently attempting to breach it, indicating potential bullish momentum.
Bullish Engulfing Patterns : Bullish engulfing candlestick patterns observed on both the weekly and daily timeframes signal strong buying momentum and potential upward movement.
Trading at All-Time High : Ramkrishna Forgings is currently trading at its all-time high, indicating strong bullish sentiment and potential for further gains.
Trading Above 50 and 200 EMA : The stock is trading above both the 50 and 200 Exponential Moving Averages (EMA) on the daily timeframe, confirming its bullish bias and potential for trend continuation.
Volume Spike : A significant spike in trading volumes reflects increased market interest and potential accumulation by investors, adding confirmation to the bullish thesis for Ramkrishna Forgings.
Target - 860 // 945
Stoploss - daily close below 700
DISCLAIMER -
Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services.
@visionary.growth.insights
RK FORGERamKrishna FORGE
CMP 467.10
BOUNCING FROM TRENDLINE
TRYING TO GIVE BREAKOUT OF PREVIOUS HIGH
Keep in Radar
RAMAKRISHNA FORGINS , accumulate 600 - 625 zone sl can place on weekly close below 570 , been a long runup so some consolidation likely
Rk forgings 2 good news,
Good vol break out .
Caution: i think market correction start , ( IT stock down , vedanta worst news etc )
Rising Triangle Pattern BreakoutPlease look into the chart for a detailed understanding.
Consider these for short-term & swing trades with 2% profit.
For BTST trades consider booking
target for 1% - 2%
Please consider these ideas for educational purpose
Comment below if you are looking for any answers
