Rites Looking Very Strong :- Keep in Radar

29. Juli

✅The stock has been moving within an ascending triangle pattern, which indicates a potential bullish breakout. It recently tested the upper resistance trendline and showed a strong upward movement with significant volume, suggesting a breakout towards higher levels. The support level is maintained at the lower trendline, providing a good risk-reward ratio.

✅RITES Ltd has a robust order book, which includes various national and international projects. Recently, the company secured a significant contract from the Indian Railways worth ₹300 crore, which has boosted investor confidence. The company's consistent performance and strategic expansions into new markets are expected to drive future growth.