Railways Stocks in Flat Consolidation. Can we see swing after base consolidation?

• Railway stocks are getting lot of positive fundamental triggers

• A range consolidation happening in the stock in the form of rectangular or flat pattern

• Price action traders can wait for either breakout or near base reversal with tight Stop loss to eneter the trade

Daily Chart

• Titagarh Rail Systems is the stock where 3 - 3 - 5 Eliiot Wave flat pattern is on going process.

• Once the flat correction completes stock can trigger rally towards next swing resistance 1100 zones.

• The risk reward ratio - RRR can make an ideal trade setup with 860 - 880 base formation happening.

• The stock is also trading above 50 and 100 EMA after retest and the momentum reversal could be of great opportunity in Titagarh Rail Systems to swing northwards.

• RVNL too forming flag pattern on charts. Thus, railways theme could be probable scenario which could pan out for next few months.

Disclaimer:

Stock markets investments are subject to market risks. Please read related documents carefully before trading or investing in stock markets. Do consult your personal financial advisor for trading or advise. I Mr. Raju Angadi Vishwanath, MS, CFTe is a SEBi registered Research Analyst and founder of Trader Hut. We at Traderz Hut intend to provide unbiased research services and we are not liable to any losses incurred in trading or investing in stock market. This blog and research is for educational basis only.