RHI Magnesita India Ltd (RHIM): Bottoming Out Pattern
RHIM is exhibiting signs of bottoming out after a prolonged downtrend. The stock closed at 456.75 with a notable gap-up opening.
Technical Setup: The gap-up indicates a shift in sentiment. While the broader trend is still "lower highs," the current price action suggests a short-term trend reversal as it attempts to stay above the 20-day MA.
Key Levels: The stock needs to cross and hold 475 to confirm a structural change.
Support: Support is firm at 435.
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