1. Buyers from a and b were happy that Reliance made 2600. Many who missed this move would be regretting not entering around 2460.
2. c gave buyers chance to buy again around 2450 with hope of 2600 and higher and many bought on 18th Nov.
3. Where they are going to keep their stop ? At what level are these buyers going to exit ? 2450 and 2400.
4. Here is where Reliance - Saudi deal re-evaluation news comes in - PRICE WILL GO BELOW 2450, 2400 LEADING TO FLUSH OF THOSE ALREADY HOLDING IT.
5. Around 2300 - 2360 is weekly time frame support for Reliance. So if buying comes and we see a reversal above 2400 withing few days then we will have up move to 2600 and 2750.
BUY because - 1. Buyers flushed. 2. Sustaining above 2400. 3. Shorts who entered below 2400 trapped now. 4. Negative news having no affect - means positive for up move. 5. Enter above 2400.
Sir i haved 67 shares @ 2534 bought last week what should i do please advice
NaveenGr
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@vikassehgal66, wait for coming days, see how it reacts around 2300. If it is for investment that is your holding period is few years then no need to worry, hold it.
Disclaimer - I am not SEBI registered, please consult your financial advisor before taking any decision.