Thursday, March 23, 2017

Ramky Infrastrucure - Potential to double from current level

Ramky Infrastructure -
The stock has been trading in range for long period of 5 years. Stock has tried to break out of strong resistance near 89 in July 14 and July 16 but could not succeed. In the process the stock has formed pattern known as Rounding Bottom. A breakout of rounding bottom can give good targets.
You can see on the monthly chart below the stock has moved up with good volumes and currently trading near 106. This move has come up with huge volumes. The stock can double from current level in an year or so.