Rashtriya Chemicals & Fertilizers Ltd – A Case Study of Multi Time Frame Analysis

Technical Analysis of Rashtriya Chemicals and Fertilizers Limited
Pattern – All Time High Breakout
Time Frame – Monthly and Weekly

Observation:
In Jan 2008 Stock made a high of 150.45 and later on in Nov 2010, stock made a Lower High of 132.40 further Stock made a lower high of 111.40 in Jan 2018. Therefore, the chart was showing that the stock was bearish.
On Nov 22 the First-time stock gave a monthly closing above the previous high at 119.70 and immediately next month stock made a monthly close at 134.55 breaking the high of Nov 2010. This shows the strength of the trend by breaking two major resistance.

Now in December 2023 stock finally closed above All time High and gave a closing of 159.50 so finally crossing this level shows the start of a new trend.
If you like you may add this to your watch list to understand further price action. As the stock has given a breakout and follow-up buying is evident on charts but closing is still awaited for the monthly close.

Now on Weekly Time Frame, the story is different. The Stock has given a breakout and retest is also done. 

Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.