REC Limited stock looks good for more. The stock just few days back made a huuge large candle move from 304 to 340. Generally, when stocks make such large moves, then don't stop. They actually pause before making another big move. That pause is called Bullish consolidation.
Here's REC Limited Daily Chart
Post a Large Candle move - the stock has formed three consolidation candles. We don't know how long it will consolidate but generally post consolidation, stock makes another upmove. One can use this pause time to accumulate. The stock is a buy near 330 with closing stop loss below 310.
Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers