📊 Ramkrishna Forgings Limited – Recovery with Strong Buying Momentum
The stock is showing a sharp bounce from lower levels, indicating early signs of recovery after a prior downtrend.
🔎 Technical Observations:
• Previous downtrend with lower highs & lower lows
• Formation of a base near demand zone
• Strong bullish candle with volume spike (buying interest)
• Price reclaiming short-term resistance levels
• Momentum indicators turning positive
🔑 Key Levels to Watch:
• Immediate Support: ₹542 – ₹515
• Major Support: ₹480 – ₹460
• Immediate Resistance: ₹569 – ₹597
🚀 Upside Targets:
• ₹597
• ₹625
• ₹652+
📉 Risk Scenario:
Breakdown below ₹515 may weaken the recovery and push price towards ₹480
📈 Trading View:
👉 Stock is in early recovery phase after downtrend
👉 Strong move above ₹597 can confirm bullish continuation
👉 Volume support indicates potential upside strength
⚠️ For educational purposes only. Not a buy/sell recommendation.
— AALGO BREATHS 📊