UPDATE 1 - RCL - Strategy - Buy on Dips

In my post on RCL dated 30th November 2019, I mentioned that a support is expected between 89 and 93 before the next reversal to move up and test 100 to 101 area. By the 5th of Dec '19 price came and closed at 93, and the next day the 6th it closed down at 92. Thus moving into the support zone I discussed. As the stock is now moving within bearish territory we can now wait for a trend reversal to initiate entry OR we can start collecting within this support zone of 89 to 93. Who ever is following this stock based on the said  strategy of Buying on Dips, must stick to that. Until we see the bullish reversal I will look for the present resistance between 100 and 101, as the level for someone to take profit. If that's the case then it is a profit margin of Rs. 11/- between 89 and 100, or Rs. 8/- between 93 and 101/-. If these returns are met within a month it will be 74 to 118% annualized (after cost), whilst if this is achieved within 3 months the annualized returns will be between 25 to 39% (after cost). In that sense it will be worth buying within the zone with an exit target between 100 and 101.
My previous post of 30.11.2019 can be viewed here

RCL Daily Chart as at 06.12.2019