RELCapital is rebounding... have a look at the chart .
Reliance Capital had given breakout from the consolidation pattern of 55-23 formed over a period of more than 2 years (March-01 to June 03) in early 2000. Volume was good on breakout and after breakout and then it never touched 55 level is in it's life time which means it was an important level for bulls and bears. Resistance becomes support whenever market falls...
Reliance Capital is trading close to log scale trendline support of 90. Trader can wait and see whether counter take support of 90 and then bounce. If it rebounds after touching 90 and gives close above 100 then investor can buy with stop loss below 87 for target of 140-170-200 level.
Buy Relcapital with SL of 124 and targets of 152/160/168. Adjust volumes as per entry price and respect the stop losses.
Sell RELCAPITAL at 183 Stoploss 200 Target 147
Had a good bounce from the support level. Heading long. Following the trend line.
RELCAPITAL (Reliance Capital Limited) BUY ABOVE 222.5
Relcapital Sell Below 221.60 Stop-loss 234 Target 168.40 Risk 5.57% & Reward 24% RR Ratio 1: 4.30 Another Probability is, it can be turned out into triple bottoms as well but looking at the prolonged decline I personally prefer to sell descending triangle breakout rather buying triple bottoms. Continuation Pattern Descending Triangles In this “flat-bottom”...
Looks like a good setup to open a positional long with green lines as targets. do share your opinion in the comments.
Long RELCAPITAL Check chart for details
Enter Long Above 435 Target 440 & 446 Sl 428
The HA candles have broken the resistance line and supertrend has shown buy signal. HA candles have crossed 20 ema which is a positive sign. MACD line has crossed above signal line and is going towards zero line. New candle formed above 20 ema. one can go for long short term trade.
Buy: 355 CBSL: 330 Target: 380/405