RCR chart, page-121

When will we get out of this zone?.

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Yes, RCR moved up slightly from 10.5 to 11 on a comparatively smaller volume of just over 4.6m shares traded.

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So what is happening? For last couple of weeks my post, I have been talking about consolidation happening between 10/12.5, with most of the play around 10.5/11.5. It was no different today. We are closing in 2 weeks today since we managed to get out from single digit reaching 6.4 in the process. We have reached 12.5, which is close to double of 6.4, a key resistance point. I wrote last week that the odds of reaching 14.5 first before 9.5 is better. I still believe that. All the trading that has happened is still indicative of that. But its probability, no guarantee, so please check your risk/reward.

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So what may happen tomorrow? Many may have hope that news of drill start may give some fomo, a good rise. But it was not to be. The spec market is not in a good state, especially resource, risk stocks. So the play we used to see before, its now a lot subdued. So although we didn't get out of the zone, the play was still positive, except for volume - and I would say, not unexpected. But now we have done around 2 weeks. I feel there could be another week or so before the good play. But my trading pattern usually after 2 weeks the clock starts ticking. We need to get out of 12.5 and reach 14.5. It would be good to at least reach there before drill start. Will that happen? Lets hope so. All the best.