Radico Khaitan Limited

• 02 September, 2024 Ruchit Thakur

Radico Khaitan Limited

Radico Khaitan Limited has reached its peak and is still expanding, with plenty of room for growth, making it seem like a sound long-term investment.

Please study and comprehend the weekly chart pattern provided by Radico Khaitan Limited. According to research, Radico Khaitan Limited is a good investment between 1850 and 1900. It has a lot of upside potential and has done quite well thus far.

Please refer to the weekly chart that Radico Khaitan Limited has supplied. The chart below shows that the stock has moved higher and is now trading above horizontal resistance after leaving the 1850–1900 range. Based on the analysis, Radico Khaitan Limited is in high demand and is trading at 2000. The huge upside potential of this stock, which could see it rise in the predicted range of 2450–2500, is depicted in the chart below. 

• Radico Khaitan Limited is a great long-term investment option because it has grown steadily and experienced a significant breakout at 1850–1900.
• Radico Khaitan Limited appears to be in a great position, with room to expand to 2450 and 2500.
• Now is the best moment to purchase this company since its risk-reward ratio is best suited for cash transactions between 1850 and 1900.
• The chart shows that the stock has broken out of an ascending triangle pattern, with a target price of 2450 to 2500.

Please refer to the weekly chart that was supplied by Radico Khaitan Limited. The weekly chart indicates horizontal resistance, a breakout, and demand in the 1850–1900 price range. The stock in that range rises as a result of the increasing demand.

Given that the stock has reached a new high, it is a fantastic time to buy. Nonetheless, kindly observe the horizontal resistance and its breach. As of right now, if we follow the rising trend on the chart, the stock may reach its goals of 2450 and 2500.

Radico Khaitan Limited was born out of the rising triangle, and the pattern's most recent targets fell in the 2450–2500 range. The rising triangle is one of the chart patterns utilized in technical analysis. Price differences result in a rising trend line and a horizontal line at the swing low and high, respectively. These two lines create a triangle.

Investors may be looking for a long-term purchasing opportunity in the 1850–1900 range in an attempt to profit from any further losses, given the stock's extreme demand. There may be a rebound back to the 2450 and 2500 levels, indicating that the risk-reward ratio is advantageous. Use each dip as an opportunity to buy this stock, which has a significant upside potential. Put any drop in value to use for company shares.

As an alternative, buyers may decide to spend cash and purchase the stock gradually, setting a stop loss of 1670 and aiming for a price range of 2450 to 2500.

Traders and investors typically look for a Volatility Contraction Pattern (VCP), which is a scenario in which price volatility decreases prior to a significant gain, to allow the stock or instrument to reach large volume and upside with a swift increase and target hit. To learn more about VCP patterns, please download the app from the Google Play Store. We also introduce a high-precision pattern recognition technique.

Radico Khaitan Limited's weekly chart displays both resistance and support. Levels are displayed on the spot chart. 

Company Profile: Indian-based Radico Khaitan Ltd. (RKL), originally known as Rampur Distillery & Chemical Company Ltd., produces country liquor, industrial alcohol, and fertilizers. This liquor company ranks fourth in size in India. The USA, Canada, South America, Africa, Europe, South East Asia, Australia, New Zealand, and the Middle East are among the more than 85 countries where Radico brands are available for purchase.

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