Despite the market conditions, this stock has gained solid momentum in the last few weeks. Market behavior indicates good buying pressure.
We are talking about Railtel, which goes by the ticker symbol NSE: RAIT. Railtel is a wholly owned subsidiary of Indian Railways; it provides vpn and broadband services.
The stock has climbed by nearly 30% within a month, going all the way from 100 to 132 in a consistent uptrend.
Take a look at the Price Action Analysis on the Chart
Railtel – Price Action Trading Analysis on 1D Chart
So what’s likely to happen next in this stock? There might be a possible retest or retracement in this stock, before it moves further upside.
We can also see a large volume increase in Railtel, which means more order flow is coming into the market.
Level wise, the major support zone is around 120 and the resistance zone is around 145. Keep an eye on the stock. We might have some opportunities in the upcoming days.
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