RECLTD - Downside target of 420 is Open

21 พ.ย.

Script: RECLTD
CMP: 491
TF:90 Minutes

With today's move, RECLTD has done the following:

- Broken down from the Symmetrical Triangle - Pattern target is 85 points

- Broken the 200 DEMA decisively after multiple attempts

- Closed below 500 (multiple attempts to close below 500 have failed in the past)

- Broken 484 support

- Trading below 20 WEMA for several weeks now

- Trading below the cloud, Baseline and conversion line

- 20 MEMA is placed at 420 levels.. If we dont close above 540 by end of Nov, most likely we will hit 420 in Dec

- Taking support at the Weekly SuperTrend for now. Hoping for it to break and close below it (480) on weekly TF

- 200 Period EMA on 90 minutes TF poses a strong resistance

(tradingview.com/x/cyex2uwc/) Currently it is placed at 530. So any pullback to 530 level is a blind sell, unless or otherwise the candle closes above

I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions.