RCOM - signs of bottoming out !!!

I apologise for being in-frequent in updating this blog. But I would surely try to update this 'regularly' though not everyday.

After a long time I thought of analysing a scrip instead of the index.

R Com seems to be a case of classic rounding bottom formation and as such has the potential to provide a low-risk trade entry for traders as well as investors.



After touching its 52 week low recently at 155/-, it has stagnated in the range of 160 - 168 for some days, making a rounding pattern.

I expect the scrip in it's bounce, can test Rs 198 - 205 levels in the next few days. Keep a stoploss at 159.

Happy trading !!

CA Rajiv D Khatlawala
Head of Research and Training
Jhaveri Securities Ltd.