Technical Calls:Reliance,Pantaloon and Reliance Capital

By | June 20, 2012

Traders who need to make money “right now” will trade more aggressively not realizing that the market will do what it wants when it wants regardless of the sand left in the hour glass.  I don’t know about others but I would much rather chase three turtles than one rabbit any day.  Slow and steady determines the pace while fast and furious can end the race.

Reliance

Reliance has shown a breakout above 736 with a formation of Bullish engulfing candle,Above 739 stock will bound to move towards 750

Buy above 739 Tgt 745,749 and 753

 

 

Pantaloon Retail

 

 

Pantaloon Retail is facing the trendline resistance at 178 with 200 DMA,Break of 178 will be bullish and stock will move towards its swing high of 184,Failure to do the same can lead the stock back to 160 odd levels

 

Buy above 178 Tgt 180 and 184

Sell below 173.5 Tgt 171,167 and 164

 

Reliance Capital

Rel Capital has formed a trading range of 323-354, Yesterday bounced from lower range of 323 and moving towards the higher range towards 354

 

Buy above 335 Tgt 337.5,342 and 348

Sell below 330 Tgt 326,323 and 319

 

 

 

Leave a Reply