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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