Energy sector looks bullish.
Reliance being key component of the sector should be the driving force.
Reliance has been trading in range of 1800-2300 since last august. With current scenario of nifty making new highs, it wont be left behind and should create new high to remain in sync with market.
Following signs have been observed in Reliance daily chart
1. SuperTrend buy signal in daily chart.
2. EMAs are in support and converging.
3. RSI above 55
4. MACD crossover already in place
Buying price, Targets as mentioned. SL 2064
Reliance being key component of the sector should be the driving force.
Reliance has been trading in range of 1800-2300 since last august. With current scenario of nifty making new highs, it wont be left behind and should create new high to remain in sync with market.
Following signs have been observed in Reliance daily chart
1. SuperTrend buy signal in daily chart.
2. EMAs are in support and converging.
3. RSI above 55
4. MACD crossover already in place
Buying price, Targets as mentioned. SL 2064
Trade closed: target reached