Any thoughts on REC Limited — Is ₹320–330 the support zone?
Been looking at REC on the monthly timeframe and wanted to get some views from people who actively track the stock.
After the massive run-up in 2024, REC has been in a pretty clear correction/consolidation phase. From the chart, I’m seeing:
- ₹320–330 → immediate support zone
- ₹290–310 → next support if ₹320 breaks
- ₹250–270 → major structural support
At the current ~₹335 level, it looks interesting to me from a valuation perspective, and I’m thinking of entering around these levels.
My thinking is:
- If it holds ₹320–330 and eventually breaks ₹370, the setup could start looking interesting again, with ₹390–410 as the next hurdle.
- A break below ₹290 would obviously make the chart considerably weaker.
The bigger concern for me is that the stock has been making lower highs since the 2024 top, so I’m not 100% convinced this is a confirmed reversal yet.
Would be interested to hear how others are reading REC here. Are you seeing ₹320–330 as a strong accumulation zone, or do you think there’s more downside before a proper bottom is formed?
u/Quirky_Zucchini_5376 — 5 days ago
