RVNL Daily Analysis

Rail Vikas Nigam Limited is an organization associated with Indian Railways involved in building the rail infrastructure required by the railways.

Analysis done with only Supply, Demand, Support and Resistance Levels with one indicator RSI (Momentum Indicator)

• Why One Should Buy?
  Because We have Two levels of Demand and these levels are tested three times in the previous history.
  Also, We have analyzed that RSI Momentum is increasing in the daily chart.
  If one buys at Buy-1 then Stop loss can be taken at Buy-2 Level.
  

This analysis is purely based on the demand and supply, There are no patterns and Pullbacks included.

We will update our analysis with patterns and pullbacks after tomorrow market Close

Let's test this simple demand and supply strategy.

İşlem aktif:

As, Price didn't come down to the level of Buy-1, So, one can wait for the price to move down and test the Buy-1 Level.

One can also buy when price test the trendline of the ascending triangle that is above the Buy-1 level.

So, I would recommend to wait and watch.