REC shares snap 2-day fall to rise over 2%; here’s how you should trade

According to fresh market updates, REC shares snapped a two-session slide to climb more than 2 percent in Wednesday's market session.

The stock settled at Rs 299 per share, up 2.24 percent. The stock had hit a fresh 52-week low of Rs 292.20 per share on the NSE on September 29.

Vishnu Kant Upadhyay, AVP, Research, Master Capital Services Ltd, stated the stock breached its crucial March 2026 backing, which now becomes an immediate resistance zone, with the breakdown accompanied by significant volumes," Upadhyay stated.

From a technical perspective, the stock keeps trade below its key moving averages, keeping the broader trend weak, he stated.

"The 100-day EMA stays an important hurdle, and unless the stock reclaims and sustains above this average, selling pressure is likely to continue," Upadhyay stated.

He further noted that the breakdown of the March backing additionally indicates that buyers are losing control, while any bounce towards the recent breakdown area of Rs 303-306 could attract fresh selling.