Worst over for RCOM

• More than 90% correction from the top of Rs.844.7 in the 2nd week of Jan 08 to low of Rs.60.8 in the 3rd week of December 2012.
• Life time highest volume on weekly basis for the week ended on February 17, 2012.

As we see on the weekly chart of last 8 years', the stock has showed the life-time highest volume on NSE cash segment.

The other oscillators like RSI, Fast Stockastic, StockRSI are still positive.

Which suggest that the stock has bottomed out and the dips have to be considered as a buying opportunity for the stock.

However, on the daily chart, we see an intermediate resistance placed at 108 NSE Spot.

The correction in the index may lead to a correction up to 99 or even 94.

But, the larger degree picture of the stock suggest to use each and every dip as a buying opportunity only.

Only a closing below 80 can make the stock weaker for the days ahead and not until.

Sheetalpuri

+919879028295