PATEL ENGINEERING is looking bullish

29 de jan.

PATELENG has been trading near 60 levels and is taking support. The monthly RSI is above 74, weekly 63 and daily 48 after retracing from 44 levels. Also, it is noticeable that it has been making a rounding bottom. It is one of the strong chart patterns as accumulation occurs at the bottom stage. If it holds the 60 levels and starts climbing up, it would be an opportunity to enter the short-term trade with a risk and reward ratio above 3.5 and target 87 to 90.