RVNL Stock Displaying Bullish Continuation Pattern: SEBI RA Finance With Palak

Shares of Rail Vikas Nigam Limited (RVNL.NSE) display a bullish continuation pattern, including breaking out of a consolidation box and forming a tight flag, according to SEBI-registered analyst Finance with Palak.

She added that the stock is currently retesting a multi-month descending trendline originating from its all-time highs. The stock has been moving sideways with a bullish tilt, indicating a potential breakout.

Regarding volumes, the analyst noted that the breakout candle recorded 14.1 million shares traded on June 9, significantly above the average of 9.78 million.

Palak said the 93% relative volume (RVol) indicates buying interest and potential supply absorption in a low-resistance environment.

The stock is holding above the key exponential moving averages (EMA), with the fan starting to widen. This setup often signals trend continuation, the analyst added.

Palak noted that the momentum indicators are also supportive, with relative strength index (RSI) at 65.72, comfortably in the bullish zone.

RVNL has immediate support at ₹420, with a stronger support at around ₹390.

The stock is currently approaching the ₹432–435 breakout zone, with ₹442 acting as a key trendline resistance; a move above this could open the path toward ₹460–470, the analyst added.

Retail sentiment on Stocktwits remained ‘bullish’, amid ‘high’ message volumes.

RVNL shares have gained 2.1% year-to-date as of Monday’s close. At the time of writing, stock is down 1.44% at ₹425.55.

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