RCF-- Rashtriya chemicals and fertilizers

RCF-- Rashtriya chemicals and fertilizers
RCF might just have formed an inverse head and shoulder with the head being at 57 and the first shoulder at 63 marked in circle and the 2nd shoulder at 72 again marked in circle.
POINTS TO NOTE
1> the volume at the head was very high which suggest buying in that area
2> the stock still hasn't broken out of its resistance above 78-79 and a failure to do so in the coming days will put the entire pattern in danger.

Resistance is at 78.50 above which target is 82, this level of 82 represents a strong resistance as it is the upper gap as marked in red circle. Above 82 the stock can easily test 90-95.
the supports are at 71 and then at 68-66 which is also the best area to buy the stock.

One can buy the stock for medium to long term in the area of 72 or at 68-66
or a conservative trade would be to enter the stock on a close above 79-82 with good volumes.

Treating this as a medium to long term buy would be a good idea rather than treating as a short term speculative trade.