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šŸ”– BSE PSU index remains in a strong up trend forming higher high-low in all time frame and has generated a breakout above multi-year highs since 2014 indicating a structural turnaround

šŸ”– Within the midcap PSU stocks, REC Ltd looks interesting as it has registered a breakout above a falling supply line joining highs of October 2021 and August 2022 signalling end of the corrective phase and resumption of up move

šŸ”– The share price of REC has remained in a range for over a decade. With PSU theme outperforming and the price chart indicating strong upward momentum we expect the stock to resume its uptrend thus offering fresh entry opportunity

šŸ”– The base of the recent consolidation is placed at the 52-week EMA (currently placed at 99 levels) highlighting an overall positive price structure
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