One stock which seems to be forming a base for rebound is Rel Capital.
The stock has good support at Rs 625 levels and this is also a support on daily charts. Indicators are oversold and many are suggesting a bounce from current levels.
One may buy on break above Rs 655 with a stoploss kept at Rs 625 for a target of Rs 705 / 710 in coming days. There may be slight resistance at Rs 675 to the stock in intraday.
Incidentally the EuroUSD has risen well and I presume therre is some more steam left in the current rebounce.
(Do check the latest article on www.investogyan.com)
Happy trading !
CA Rajiv D Khatlawala
www.investogyan.com
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