RAILTEL: Building Strength at Demand ZoneRAILTEL (Railtel Corp of India Ltd.)
Key Levels:
Demand Zone: ₹348 - ₹357
First Target Zone: ₹452
Second Target Zone: ₹561
Stop Loss: Below ₹345 (demand zone failure)
Structure & Trend:
Stock has been in a corrective phase, respecting the demand zone multiple times.
A potential double bottom structure may be forming around ₹348-₹357.
Golden retracement of the last swing low offers a bounce opportunity.
Trade Plan:
Entry: Around ₹355 - ₹365 within the demand zone.
Targets:
First target: ₹452
Second target: ₹561
Stop Loss: ₹345 on a daily close basis.
Note: A breakdown below ₹345 could lead to further downside; monitor price action.
