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.
100 of the nifty stocks have reached its newest 52 week low and nifty is bound to take positive hike.. Hence it ensures that this stock Relcapital would definitely reach its highest 160 in an average short span..
For Short/Long term investment,
THE TWIST IN THE INDICATOR SHOWS THAT THIS SHARE WILL BECOME BULLISH CROSSING AT 168 LVLS.
TARGET OF 180 AND 219 IS SEEN VERY FAST.
WHAT COULD BE THE NEWS??
KNOW THE NEWS AND AFTER THAT DECISION CAN BE TAKEN.
IT IS IN A UPWARD CHANNEL BOTTOM.
IT SHOULD START MOVING TO TARGETS OF 229 AND A MAJOR ONE TO 355 LEVELS.
BEFORE THAT 205 HAS TO BE CROSSED WITH HUGE VOLUMES.
KEEP STOP LOSS AS SHOWN IN THE CHART.
ALL THE BEST FOR INVESTMENT!!
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed...