Redington India gearing up for a BIG up-move - BUY
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Redington India closed above the monthly resistance line which seemed more like a descending triangle pattern with an upside breakout. The stock seems to be ready for an upside move to test December 2014 high of 140 level. RSI above 50 is a good sign.
Trading strategy :
CMP : 109
Target : 138
Stop loss : Close below 92
Reward to Risk ratio = 1.70
Trading strategy :
CMP : 109
Target : 138
Stop loss : Close below 92
Reward to Risk ratio = 1.70
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