sgor1980

Generation Of Buy Signal In RCOM

Long
NSE:RCOM   RELIANCE COMM LTD
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Dear Readers,

I had been observing the stock of RCom for the last many months. Its rise from its recent low of 34.30 to the hight of 38. 05 , givining due consideration to the internal wave counts, looks to be impulsive in nature. Secondly, the MACD Oscillator has given sign of divergence in the current movement of the stock.
The stock of RCom seems to have completed its southward movement and may show up some good upside move in it. However, on safer side, any move below the price of 34.30 would be consider risky.
For the reference of the readers, the weekly chart of RCom , with possible wave counts, has been attached with this post.

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Trade closed: stop reached

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