On weekly chart it shows short and trend seems to be Short,
It is possible for a bounce back momentum play on long side
Looking at triangle formation and Fibonacci retracement levels
Possible to go long @ current level with stoploss at 26639/600 for target insight at 27000, 27112.
At 27000, 27112 seems to be a possible resistance level.
Technical bounce back...
After sell off nifty might bounce back
Long between 10639 to current level with stop loss around 10570 level 50% fibo level from recent high
And Trail for Targets 10815, 10883 possibly.
Below 10570 might try for lower level.
Use stop loss
Interesting chart pattern formation on daily and hourly chart .
It might be a possible formation of S-H-S ( Head and Shoulder pattern)
If it happens reliance may fall back to 1177
Long at current level with stop loss at recent low of 1216
With target @ 1256, 1268/72 and extended 1281
1272 to 1280 might be possible resistance and could reverse if S-H-S...
Charts still not very positive until it crosses 233 level.
Possible short @ current level with stop loss slightly above 233 for a target of 180 level.
Use stop loss
Close above 233 on daily basis will open a Long position for a target above 245 +
Jubilant might see some bounce back to 1400 level before moving towards lower levels.
Possible short near 1400 level for a target of 1318, 1248, 1223, 1177, 1037 & below
Use stop loss above 1440
For short term Long position target around 1400, with stop loss for 1248 or so.
Preferred strategy Short on rise
NSE: RNAM Oversold towards 113.
Falling since beginning, with group company bankrupt, effect might be seen on this stock.
Very oversold. Short bounce back is expected, but will not last long
Price might be pushed towards 113 if consistent close below 134 level on daily chart happens