Rural Electrification Corporation Limited is in a rising trend channel in the medium long term. Rising trends indicate that the company experiences positive development and that buy interest among investors is increasing. It also gave positive signal from the rectangle formation at the break up through the resistance at 126. Further rise to 144 or more is signaled.
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The stock has broken a resistance level in the short term and given a positive signal for the short-term trading range. The stock has broken up through resistance at rupee 137. This predicts a further rise. In case of negative reactions, there will now be support at rupee 137. Volume has previously been high at price tops and low at price bottoms. This strengthens the trend. The stock is overall assessed as technically positive for the medium long term.
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