yogeshwar
Short

Reliance Industries - Overextended stock ripe for correction

NSE:RELIANCE   RELIANCE INDS
In the last two months, the stocks that have contributed the most to the nifty bull run are reliance industries, hdfcbank and tcs . The results of Reliance Industries were ok but does not justify the high valuations the market has given to it. The short-term trend is way above the yearly trend of this stock and it looks ripe for a correction. On Friday the stock made an evening star pattern on the daily chart .
Reliance Industries has corrected till the yearly trendline and bounced. In the downtrend starts the level of 950 is likely to be achieved.
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Target for August expiry???
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Target for August expirey ???
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