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Published on 28/05/2020 10:08:29 AM | Source: Motilal Oswal Financial Securities Ltd

Buy Reliance Industries Ltd For Target Rs. 1515 - Motilal Oswal

Posted in Broking Firm Views - Short Term Report| #Reliance Industries Ltd #Trading Report #Motilal Oswal Financial Services Ltd

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Technical Trading Idea

* Overall chart structure of Reliance is positive and this is mere a pull-back move in the counter. Stock rebounded from its strong support zone of 1400 – 1415 and now giving a supply trend line breakout on hourly chart, which is a positive sign for the stock. RSI oscillator is placed positively on intraday scale, indicating short-term strength in the counter.

* Considering current price structure, we advise traders to buy the stock for an up move towards 1515 with stop-loss of 1410.

Buy Reliance Industries Ltd 2-3 Days CMP 1445 Target 1515 SL 1410

 

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