🚨 RAMKRISHNA FORGINGS (RKFORGE) — Breakout-Retest Setup

🚨 RAMKRISHNA FORGINGS (RKFORGE) — Breakout-Retest Setup Ramkrishna Forgings is showing an interesting price-action structure after a sharp rally followed by profit booking. The stock corrected from around ₹770 and found support near the ₹659 zone, where a hammer-type candle formed around the 50-day EMA. That support reaction is important because the stock subsequently bounced strongly. On September 18, Ramkrishna Forgings closed at ₹724.10, gaining 2.64%, with an intraday range of ₹705.45–₹728. The stock has therefore moved back above the ₹700 area after finding support lower down. ***** Technical analysis published on September 18 highlighted the breakout-retest zone on the weekly chart, with momentum and trend indicators remaining bullish. Moneycontrol 🎯 Key Levels: • Support zone: ₹659–670 • Immediate zone: ₹700–710 • Target 1: ₹777 • Target 2: ₹855 • Stop Loss: ₹627 The setup becomes more interesting if the stock continues holding above the ₹700 area and shows fresh buying volume. Traders should watch the previous high around ₹770–777 closely because that area may act as an important resistance zone. ⚠️ The targets and stop-loss above come from the September 18 technical setup and are not guarantees. Always manage position size and risk according to your own strategy