With Inflation in an 'uptrend' at 8.56% in Jan, our fears of higher (or maybe hyper) inflation may come true. Expect some drastic changes in the bank interest rates on upside.
Reliance Capital is a stock which has been in a down move for some time and the current formations on the charts too suggests that the selling pressure is likely to continue further.
The price charts indicate a break below Rs 740 should trigger a sell off which can take it to sub-Rs 700 levels in coming days. Keep a stoploss near Rs 768.
Happy trading
CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd.
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