Reliance capital (last -333.8) has clocked a 5 up- 3down price action since its lows in Aug 2013. This is a classic bullish set up under the wave principle. The stock could be at the beginning stages of a huge bullish price move or a large corrective rise. In either case, one may expect a minimum rally to Rs.380. Traders may use Rs.304 at a daily closing level as a stop loss and may use dips to go long in this counter.
Reliance Capital - Daily Charts
Legal Disclaimer: This post gives an idea of how a trader chooses low risk entry points for trading and hence what you see in this post is for educational purpose only. This is no solicitation to buy, sell or hold any securities. I’m not a registered investment advisor and I strongly urge you to consult one if you are going to act on the above idea. If you decide to take action on the above idea, you are agreeing that you take full responsibility for the profit or loss that you may sustain based on such decisions and agreeing to indemnify the author of the same. You may have seen me on TV suggesting successful trade ideas but remember trading is inherently risky and past performance is no guarantee of future outcome.
Note: This was a premium digital content and has now been unlocked as Reliance cap has reached 373
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