Reliance CMP 1572
The stock is near 2008 highs. It is an important level and is likely to get some respect. Expect some resistance around 1620-1650 zone. In the longer run, any dips towards 1360-1280 will provide good entry opportunity in the stock from long term accumulation perspective...
For the current set up, One may consider the Strategy to
Sell : -...
Nifty
CMP 9606
Sell on rise will hold true if Nifty stays below 9648 levels on closing basis...
NIfty is at 61.8% Fibonacci retracement level of the fall from 9710 levels to 9448.
& 9648 represents 76.4% retracement level
We look to sell Nifty if it is to get resistance in this zone of 9610-9648
Take care and safe trading...!!!