NeeteshJain

RCOM BREAKS CRUCIAL SUPPORT

Short
BSE:RCOM   RELIANCE COMMUNICATIONS LTD
Today, the price action breaks out from the important support level of 46-47 levels that indicating further weakness.

Target: 40
Stoploss: 49
Trade active: Now ideal time to short it again, as it reaches to the previous support levels which may now be acting as strong resistance.
Comment: Short with Stoploss of 48, Target 40
Trade active: Formed a Bearish Engulfing Candlestick Pattern