RVNL symmetrical triangle break out in progress
With great ADX and sub par volumes, RVNL is consolidating in a symmetrical triangle as the breakout failed last time around!
With strong volumes and continuation of momentum, it can break out of the triangle and move towards 580-590 with momentum, it can hit 777 very quick in just one or two quarters. The only lagging factor being that the revenue generation from the first high speed rail project may start in mid 2026 as per some reports, which may start momentum in the stock!
Recently RVNL has tied up with a Malaysian company to execute projects in ASEAN for rail manufacturing and operation in ASEAN region! This is a big boost and can only accelerate post the commencement of the first leg of Ahmedabad Mumbai high speed rail corridor as a proof of concept!
With strong volumes and continuation of momentum, it can break out of the triangle and move towards 580-590 with momentum, it can hit 777 very quick in just one or two quarters. The only lagging factor being that the revenue generation from the first high speed rail project may start in mid 2026 as per some reports, which may start momentum in the stock!
Recently RVNL has tied up with a Malaysian company to execute projects in ASEAN for rail manufacturing and operation in ASEAN region! This is a big boost and can only accelerate post the commencement of the first leg of Ahmedabad Mumbai high speed rail corridor as a proof of concept!
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