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    Stock Radar: RCF breaches 3-month consolidation range; should you buy this fertiliser stock?

    Synopsis

    The fertiliser stock hit a record high of Rs 190 on January 20, but the rally fizzled out and it witnessed a steep decline dropping below crucial moving averages. It took support around 120 levels in March 2024 and bounced back. Although the journey remained volatile, it managed to reclaim crucial moving averages, which suggests that bulls are taking control.

    Rashtriya Chemicals and Fertilizers Limited witnessed a swift price action last week, which helped the stock break out from a consolidation range reported since February 2024.The breakout has opened room for the stock to retest January 2024 highs and even go beyond the same to hit fresh record highs, suggested experts.The stock hit a record high of Rs 190 on 20th January 2024, but it failed to hold on to the momentum. It witnessed a steep
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    The Economic Times