Reliance is trading near the apex of the symmetric triangle. To break-out and continue on an uptrend, it has to close above 1111 to reach a target of 1134.
Short L&T with target of 1382 because
1) Parabolic SAR bearish (recent single dot formed above the candle)
2) Increasing size of red candles in down trend
3) MACD bearish cross-over
4) Next Fibnonacci retracement level of 23.6 %
Stock in short term down trend and should reach the target of 1382 because
1) Big red candles in down trend recently
2) Parabolic SAR just turning bearish (please check the single recent dot above the candle)
3) MACD has bearish cross over
4) Price should hit the next Fibonacci level
On Daily chart, after making a high of 271, Coal India pulled back from 233 to 252 at 50% Fibonacci retracement level and taking support at 38.2 level; at 248. It has formed a bearish engulfing candle on daily chart therefore possible for bearish downtrend to hit level of 23.6 % i.e. 242.9
