rvc8280

RUCHIRA : Perfect Double Bottom example

Long
NSE:RUCHIRA   RUCHIRA PAPERS LTD
RUCHIRA : On my Radar from July-18th, when trendline breakout happened on Hourly time frame.

Here is the history-
2022-07-18: ADX/DI+ are >25. Cross WK Piv Upside - Shooting Star. Close is above SMA-20 on D/Wk/M time frames.
2022-07-19: Crossing 4 week High. RSI crossing above 60 on M/W/D time frames.
2022-07-22: ADX > 28
2022-07-27: Cross WK Piv Upside, Bullish EngulfingOn Daily time frame SMA 13> SMA 34> SMA 55 & Close crossed D13 Up.
2022-07-28: Stock In Squeeze - 3 days, Gravestone Doji & Normal NR7
2022-07-29: Normal NR7 - Breakout
2022-08-01: Close Crossing 4 week High, Out of Squeeze, on Monthly time frame 20-SMA Cross Upside 50-SMA
2022-08-02: Doji Star (Watch)
2022-08-04: SMA 50 crossed SMA 100,

Based on the chart pattern, if sustains above 132.95 - we should be seeing 143, 153 and 175 levels soon.
Wait for the re-test to complete and enter after your own research.

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