Radico Khaitan Ltd is showing strong bullish momentum.
Radico Khaitan Ltd is showing strong bullish momentum and is trading near its all-time highs, presenting a potential breakout opportunity.
Ascending Trendline Support:
The stock has been consistently supported by an ascending trendline since mid-year 2024, indicating a strong uptrend. Multiple tests of the trendline (as shown by the green arrows) confirm its reliability as a support zone.
Current Pattern: V-shape recovery with positive momentum.
Breakout Level:
Daily close above ₹2,450 is significant, indicating readiness for the next leg up.
A successful breakout above this zone could propel the stock toward ₹2,620+
Support Levels:
Immediate support lies near ₹2,350 aligning with a recent low and the ascending trendline.
RSI (Relative Strength Index):
The RSI is near 67, which is below overbought levels, leaving room for further upside momentum before hitting overbought territory.
Key Levels and Strategy:
Entry Trigger: Place buy orders above Friday's high of ₹2,480 to confirm breakout continuation.
Target 1: ₹2,620 Target 2: ₹2,700+ if momentum sustains.
Stop Loss: ₹2,400 to manage downside risk.
Position Sizing: Ensure position size aligns with your risk tolerance. The trade offers a good 1:2 risk-to-reward ratio.
Considerations:
Volume Confirmation: Look for high trading volumes as the stock approaches breakout levels to validate the move.
Market Sentiment: Monitor broader market conditions and sector trends for alignment.
Risk Management: Stick to the defined stop-loss levels to safeguard against unexpected reversals.
Disclaimer -
The information provided herein is for educational purposes only. It does not constitute financial, investment, or trading advice. Consult a qualified financial advisor before making any financial decisions.
We are not liable for any monetary loss, that may arise directly or indirectly from the use of information provided.
Ascending Trendline Support:
The stock has been consistently supported by an ascending trendline since mid-year 2024, indicating a strong uptrend. Multiple tests of the trendline (as shown by the green arrows) confirm its reliability as a support zone.
Current Pattern: V-shape recovery with positive momentum.
Breakout Level:
Daily close above ₹2,450 is significant, indicating readiness for the next leg up.
A successful breakout above this zone could propel the stock toward ₹2,620+
Support Levels:
Immediate support lies near ₹2,350 aligning with a recent low and the ascending trendline.
RSI (Relative Strength Index):
The RSI is near 67, which is below overbought levels, leaving room for further upside momentum before hitting overbought territory.
Key Levels and Strategy:
Entry Trigger: Place buy orders above Friday's high of ₹2,480 to confirm breakout continuation.
Target 1: ₹2,620 Target 2: ₹2,700+ if momentum sustains.
Stop Loss: ₹2,400 to manage downside risk.
Position Sizing: Ensure position size aligns with your risk tolerance. The trade offers a good 1:2 risk-to-reward ratio.
Considerations:
Volume Confirmation: Look for high trading volumes as the stock approaches breakout levels to validate the move.
Market Sentiment: Monitor broader market conditions and sector trends for alignment.
Risk Management: Stick to the defined stop-loss levels to safeguard against unexpected reversals.
Disclaimer -
The information provided herein is for educational purposes only. It does not constitute financial, investment, or trading advice. Consult a qualified financial advisor before making any financial decisions.
We are not liable for any monetary loss, that may arise directly or indirectly from the use of information provided.
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