We are only conducting Seminars to make Professional Traders. Join Now for Hyderabad and Chennai Seminar. The material published on the blog is of general and educational information only and is not suitable for trading purpose.

Reliance - Is it Right Time to Buy?

Reliance was a darling bet for any stock investor and people took pride in holding the stock. However like politics their is no permanent friend or foe and same way stock market also do not advise getting married to the stocks as one has to be dynamic in approach to get in or out of the stock at the right time.

Reliance is presently providing all the right signals and one can go long in the stock with a stop loss in near term as 870 and can reverse the strategy below 870 for target 850- 842 levels. The stock is showing a rising trend channel and is breaking out of the rectangle with base at 842 levels.

We are optimistic on the stock performance due to following two aspects namely:

Firstly, Stock has broken out of the rectangle formation after a long time of consolidation. Secondly it is showing a positive volume balance which means that stock is moving on the higher side with higher volume or increasing volume when compared with previous days volume during its consolidation phase.

Reliance industries can help you make money by investing for medium term


Verdict

Stock is recommended for a target of 900-930-1050-1150 and higher levels and holding period ranges from short term to medium term. Do remember to check our short term holding stocks for making real money in market and use our hot stock of the day to make money in intraday trading as real profit lies in trading less. The above post is made on 07 Jul 13 and if you like our efforts do spread the word in your social circle.

Disclaimer

Our clients are long in the stock.

Most Visited Stocks - Click to Visit Link

 
We Teach and Train our Readers as we want to make sure that Readers become thorough professionals. We do not provide any stock tips. Please do not make any payments. Your joining or reading content is subject to acceptance of our terms and Disclaimer for which link is given on the site at bottom right hand corner. Wherever the word tip is written; it implies an idea which is of informational value and is not suitable for trading. Trade ideas if any are for educational purpose only. We are conducting Seminars to make Professional Traders. Join Now for Bangalore, Chennai and Hyderabad. Leave query through contact form.
Chart> Nifty A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 0-9