REC LTD to move higher
Rural Electrification corporation listed on the National Stock Exchange India has formed a massive inverse head and shoulder pattern. This technical pattern formed over the longer time period has much more strength and indicates a higher move from its current market price the nifty index moving higher from the month of August 2022 will also support rec limited its initial targets are towards 131.70 above which a very likely to test 136 and and 150. And finally 170 The inverse Head and shoulder pattern is confirmed above the break of 131.70 however, as I am writing this rural electrification corporation as it's PE ratio below its 5 & 10 year average and its currently trading at lowest industry average #Nifty #Sensex #Nifty50 #TechnicalAnalysis #SGXNifty