Reliance Industries:
Reliance has been trading in the range between 900-1150 for the past 2 years,which has been the main laggard of Nifty. This time around with good Q3 results,will the stock move up?
Lets see what chart says for short term:
A perfect hammer at the end of downtrend on Thursday last week with huge volumes indicate trend reversal.Is this the short term bottom?May be,i more leg down to 950 levels and then towards 1040.Oscillators are still in negative territory.
Bottom line,it is still in trading range.Buy at 950 levels and sell at 1120 levels.If we see clear breakout from this range,it would be 200 points from breakout either side.Better avoid this stock.
Reliance has been trading in the range between 900-1150 for the past 2 years,which has been the main laggard of Nifty. This time around with good Q3 results,will the stock move up?
Lets see what chart says for short term:
Bottom line,it is still in trading range.Buy at 950 levels and sell at 1120 levels.If we see clear breakout from this range,it would be 200 points from breakout either side.Better avoid this stock.
No comments:
Post a Comment