RELIANCE ENERGY
The scrip is showing signals of a potential upmove in the short term.
For the past few days it is moving in a narrow range - technically termed as a 'bullish flag'.
Short term traders can enter on break out of the range at Rs 1368 with a strict Stoploss at Rs 1290 for a target of Rs 1500+. ..
Long term investors may consider Rs 1100/- as the crucial support where the stock has seen multiple buying momentum.
Happy Trading
CA Rajiv D Khatlawala
3 comments:
Rajiv, can we have some sell reommendations? Why we always have Buy recommendations.
Are your calls valid for Future positions?
When overall sentiment is bearish and expectation on NIFTY charts is 4400, isn't buying positions more risky than sell positions?
I am restraining myself from any buy positions for past 3 months, till NIFTY Crosses 5400.
Even your books says stay with the trend, since overall trend is Short why not lets have Short calls?
Dear man4urheart
There is no bias ion giving only buy recommendations ... In fact if you have observed - the buy recommendations are with relatively small targets and stops...
and if you have observed the short term trend ( past few days) is actually +ve and so one can take long trades for small profits.
You may observe that time frame of the trader is an important starting point - so if your time frame is say 3-5 months , ignore the buy recommendations !!
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