Kaustubh
Short

RELIANCE Short

NSE:RELIANCE   RELIANCE INDS
Reliance             has been a true star that practically carried Nifty             for some time.
Now it's time for a breather. The rally looks tired.
Notice the indecisive price action at 1600 level (encircled).
Also there is divergence in the stochastics as seen in CCI .
Should be a low risk trade to go short with a stop above 1620 and target of 1505 (just before 1500 to be safe)
Typo in the description above. My entry would be around 1620 NOT the stop. Stop could be above 1650
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