REC as seen in chart broke the trendline which was acting as a resistance. It also managed to trade above all its key moving averages which is a positive sign. Stock is in downtrend since last 2 years and now seem to form a bottom near 160. Stock also trading above its psychological level of 200. All these signs indicate bullish trend in coming days. Stock can be bought at CMP or in correction till 200 for the short term target of 230 - 235.
Stop loss at 197 recommended.
