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 REC Limited - Technical Analysis

REC Ltd (BSE:532955 , NSE: RECLTD) is a Central Public Sector Undertaking under the Ministry of Power engaged with funding projects in the total power area esteem bind from age to dispersion. The company provide services like providing loans to new power generation projects, transmission projects and distribution. The intrinsic value of the stock ranges upto Rs.507 whereas the stock is now trading at a rate of Rs.134. 

During FY21, the Company dispensed an absolute amount of INR 92,987 Crore, as against INR 75,667 Cr in FY20. This included 25,930 Cr towards generation projects, 3,265 Cr towards renewable energy projects, 19,301 Cr towards T&D projects among different regions.

In day chart view , it can be seen that the stock price of REC Ltd is consolidating at a range of 123 frequently. Excluding a large dip the stock shows a sideways trend between 123 and 154 . After the recent stock market dip the share price has came back to the same level and taken bullish trend afterwards. The current market price of the REC Ltd is Rs. 134 and the stock can buy with a target level of 154. MACD also indicates a buy signal for the stock. The stock could reach the defined target in 4-6 weeks with a  gain of 15%.

If this content seems interesting to you , stay tuned for more updates from this space and also watch my previous article on stock market trends. Give your suggestions on comment section.   

 

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