Reliance Industries - Potential breakdown
The highest weightage stock in our stock market is on the verge of a breakdown. Needs to bounce immediately for relief.
I would be very cautious to short the stock just yet because any stake sale news might move the stock gap up.
But short below 1900 with a SL 2% higher (approx at 1935)
First target 200EMA and then the medium term support around 1835.
The main trouble would be below that, not just for this stock but our broader market in general coz it would affect the nifty badly.
I would be very cautious to short the stock just yet because any stake sale news might move the stock gap up.
But short below 1900 with a SL 2% higher (approx at 1935)
First target 200EMA and then the medium term support around 1835.
The main trouble would be below that, not just for this stock but our broader market in general coz it would affect the nifty badly.
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