Tech_Chart
Long

Reliance capital around support

NSE:RELCAPITAL   RELIANCE CAPITAL
Reliance             capital finding support around 525-540 zone & high chancees are for reversal. Trendlines & support line merged at this zone. Fibonacci retracement level & Stochastic level (oversold) also supporting the bounce. Future can also be added in view of a 7-10 days.

Level to enter=528- 538 but can enter at cmp also....
Target 574, 585 & more
SL 521

keep strict stop loss...
there is not much to go but reward can be good....

best of luck....
Comment: Trendline of MACD also denies trendline of price action which shows trend reversal...
Comment: Good going....Target 1 of 574 achieved...book 50% (partially)
Comment: Yes, 2nd target of 585 almost reached also.....pls book 25% nearby
Pls note above 588-590 level it can zoom to 600 or above (for remaining 25%)
best of luck
Comment: If Rel cap surpass 592-595 zone(imporatant hourly chart breakout resistance) & stays for atleast 1 hr, it can zoom to 620-625 level.
See Long term chart i think 510 - 515 is the entry level
Reply
Tech_Chart shreesalbarde
@shreesalbarde,

I agree with you but this is for ST trade. We can only predict the zone but seeing the probable convergence in MACD, we can do the staggered entry in cash from 525-540 level...We may lose the opportunity...risk reward is in favorable position...In my thinking in cash we should avoid SL also....Best of luck
Reply
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