RAMASTEEL Is listed on NSE (RAMASTEEL is Ticker ) Stock is part of NIFTY METAL Index
How to Trade Breakout
RAMASTEEL is consolidating in the range of 87-97 from past 1 months and as seen in below chart last 3 days has closed above the Breakout level of Rs 97 rise has been backed by Volumes and Supply is getting absorbed suggesting Strong Hands entering the Stock.
As the Range is for 10 points (87-97) we can expect a minimum Jump of 10 Points which translate to 10-15% rally.
So Target from breakout should be Rs 107. Breakout tend to be fast and furious suggesting stock can see the target in next 2 weeks.
Also Stock closed above 1×1 Gann Angle Further confirming bullishness
Also as per Supply Demand Stock is near trendline breakout can rally towards 104/111/120 in short term.
Traders can Buy in Range 98-99 Target 107/114/120 SL should be kept at 92 on closing basis
The above Stocks is not investment pick as I am not expert in Fundamental analysis but a short term pick for gain of 10-20% purely based on Technical Analysis based on my Studies.Please also do your own study before trading this stock and trade in small quantity also be strict with Stop loss.Bramesh Bhandari and his family/associates/ analysts would have exposure in the securities mentioned in the above article.