Stock of the day : Buy Reliance 2300 PE For Target Rs.80 - Religare Broking
RELIANCE
* Reliance has been trading in a consolidation range of 2300-2750 for last nine months and currently trading closer to the lower band.
* The recent price action combined with bearish market sentiment are pointing towards a breakdown soon.
* The bias would negate if it manages to reclaim 2500 levels decisively.
* We thus suggest creating fresh shorts through the Put options.
Buy Reliance 2300PE CMP: 46 Range: 35-38 SL: 18 Target: 80
Technical Chart : Daily
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