RBL - waiting for direction

RBL bank , one time hot favorite for the investors reminds me of the phrase rags to riches.

I have enlisted the various years in which the trend lines have been very helpful to ensure wise money management by fulfilling one of the 2 investment rationales

1. Buy Low, sell high (knowing the various trend lines helps to know where a low could be and where a potential high could be)
2. Cut your losses if the trend has changed and be wise to relook at your strategy. They don’t say for nothing that Cash is King

In the year 2020, price has largely moved within the price range of 310 to 390

A close above 2019 resistance line of 413.90 may give us some sign of potential change in current trend which seems to be sideways.

Will be posting more notes on this in a later chart too

Keep looking for more.

Please share a thumbs up if you like what you see and you could also share your comments in the section below

Comment:

Support being tested....still very much in the rectangle formation. Wait for breakout in either direction

Comment:

RBL testing the lower range. Expect support. Looks like an inverse head and shoulder pattern, which is formed near market bottoming out. I will put up a new post with this analysis. Look out for that