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Unite Technologies Financial

19th Dec · SEBI-Registered Analyst

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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