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NeeteshJain

RCOM BREAKS CRUCIAL SUPPORT

Short
RELIANCE COMMUNICATIONS LTD. (BSE:RCOM)  
NeeteshJain Updated   
BSE:RCOM   RELIANCE COMMUNICATIONS LTD.
RCOM Support and Resistance support breakout
8
1
rcom supportandresistance support breakout
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
snapshot

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