OUR RECOMMENDATION
| CMP# | 144 |
| Idea | BUY |
| Buy Range | 136 – 145 |
| Target | 158 – 165 |
| StopLoss* | 130 |
| Duration | 20 – 25 Trading Sessions |
| Potential Return^ | 10 – 15% |
| CMP# | Idea | Buy Range | Target | StopLoss* | Duration | Potential Return^ |
| 144 | BUY | 136 – 145 | 158 – 165 | 130 | 20 – 25 Trading Sessions | 10 – 15% |
# CMP on Mar 05, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 151.
^ The returns are calculated based on CMP#
COMPANY OVERVIEW
REC Ltd is a nonbanking financial company providing financial services for power generation, transmission, and distribution projects in India. It offers long term loans, medium and short term loans, debt refinance, equity and equipment finance etc. In Q3FY19 the company’s net income was improved by 29% to Rs.7252 crore and Net Profit jumped by 16% YOY to Rs.1274 crore.
| Stock Data | |
| NSE Code | RECLTD |
| Sectoral Index | Nifty Financial Services |
| 52W High | 144.9 |
| 52W Low | 89 |
| Face Value | 10 |
TECHNICAL OBSERVATIONS (WEEKLY)
- Stock Price recently make Breakout above upward sloping channel from weekly charts.
- Volumes have gone up along with price rise.
- Indicators like MACD and RSI turned bullish on Weekly Charts.
- The stock formed well defined Ascending Triangle Pattern over the last 6 months and a breakout above the upper side shows further bullishness.
TECHNICAL OBSERVATIONS (DAILY)
- We have seen Higher Tops and Higher Bottoms formation in Daily Charts.
- The stock is clearly in Uptrend and last few days stock is trading above 15 days Moving Average.
- The recent closing above the Upper Bollinger Band.
