Stock of the day : Reliance Industries Limited For Target Rs.54 - Religare Broking Ltd
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Reliance Industries Limited
* Reliance has been gradually inching lower for the last 3 months, after making a new high.
* It has slipped below the support zone of long term moving average i.e. 200 EMA on the daily chart.
* Chart formation indicates the prevailing downtrend to continue.
* We thus recommend creating fresh shorts through the Put option.
Buy Reliance Industries Limited CMP 31.85; Range 30-33; SL 22; Target 54
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SEBI Registration number is INZ000174330
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