Reliance showing strong momentum - Buy @ 1248 for 1300 target
Its continue to show resistance and will move towards 1300 levels over the next week or two.
Key indicators
1. Tehnical indicator: Fibonacci retracement level of 78.6% which is @1256, once this is taken out it will move back to its previous high of 1322.
2. Fundamental: Strong results posted by the company has boosted the stock price. Thus, entering a bull phase.
Key indicators
1. Tehnical indicator: Fibonacci retracement level of 78.6% which is @1256, once this is taken out it will move back to its previous high of 1322.
2. Fundamental: Strong results posted by the company has boosted the stock price. Thus, entering a bull phase.