RCOM has been consistently falling down from 100s in Feb this year to as low as 54 now. Overall it is looking very bearish on charts, except that for couple of trading sessions it may look positive
On BSE exchange for RCOM 53.4 acts as major support level. Wave 3 may start anytime next week and that should take RCOM to 60 and maintain a strict SL at 53.4
Parabolic SAR (green dotted lines) showing below candlestick chart signifies that buying opportunity is seen. Looking at candlestick pattern in the last trading session RCOM has registered a DOJI sign (when opening and closing values are almost equal) which signifies that a big move is expected and that is mostly going to an upmove rather than a down move because of technical indicators showing right things
The above technical indicators are a mix of leading & lagging indicators. Oversold & positive divergence upward seen in stochastics indicator, which confirms an upward movement i.e. wave 3
Similarly TRIX & MACD which are trend indicators are also signifying that a signal cross over is very likely to happen anytime
Force Index which is a price and volume indicator has also got an upward divergence on chart
Summary
Buy RCOM and target 60 with a strict SL at 53.4
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