Rites - Symmetrical Traingle.

Time Frame : Weekly
### Technical Analysis:

1. **Symmetrical Triangle Pattern**:
- The chart shows a symmetrical triangle pattern, which is a consolidation pattern that usually leads to a continuation of the previous trend.
- The price has recently broken out of the triangle, indicating a potential bullish move.

2. **Price Movement**:
- The breakout has occurred with a significant move upwards, indicated by the large bullish candle.
- The projected target from the breakout is around 1052.65 INR, which is a 42.34% increase from the breakout point.

3. **Volume**:
- The volume has spiked during the breakout, which adds credibility to the breakout. Increased volume during breakouts generally signifies strong buying interest.

4. **RSI Divergence Indicator**:
- The RSI (Relative Strength Index) is at 58.50, which is in the bullish territory but not overbought.
- There is a noticeable bullish divergence in the RSI, where the price makes higher lows while the RSI makes lower lows. This often precedes upward price movement.

### Conclusion:
- The symmetrical triangle breakout, coupled with increased volume and RSI divergence, suggests a strong bullish outlook for RITES LTD.
- The price target based on the height of the triangle adds to the potential for a significant upside.
- Traders might consider entering a position on a pullback to the breakout level or a continuation of the current trend.