Reliance Industries made high of 955 on Q3 result day and has been falling relentlessly till 800. Stock has broken its medium term trendline as shown in above chart. As per classical TA Support has become resistance and stock is unable to cross the trendline as seen in today’s trading session when stock pulled back from 823 odd levels. Stock is near its 200 [email protected] Break of 800 on closing basis can see the stock going down till 760 odd levels in short term.
Buy above 812 Tgt 815.3,820 and 825 SL 809
Sell below 806 Tgt 803,800 and 795 SL 809
Buy above 372.5 Tgt 375,378.6 and 381 SL 370
Sell below 366 Tgt 362,357 and 353 SL 370
Buy above 1375 Tgt 1383,1391,1398 and 1405 SL 1366
Sell below 1358 Tgt 1353,1345 and 1335 SL 1366
- All prices relate to the NSE Spot
- Calls are based on the previous trading day’s price activity.
- The call is valid for the next trading session only unless otherwise mentioned.
- Stop-loss levels are given so that there is a level below/above, which the market will tell us that the call has gone wrong. Stop-loss is an essential risk control mechanism; it should always be there.
- Book, at least, part profits when the prices reach their targets; if you continue to hold on to positions then use trailing stops to lock in your profits.
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