Friday, October 23, 2015

RCOM analysis by Akash Mittal

Shown above is the monthly chart of RCOM. As we can see the stock has continuously witnessed a downfall after making highs around 850 levels. The stock seems to complete a 5 wave pattern on the lower side. Now one can expect the stock to give some bounce till levels of 150. A resistance is pearched at 150 levels where the stock can encounter some profit booking.