jashjacob

RELIANCE - BUY IN DIPS

Long
NSE:RELIANCE   RELIANCE INDS
Reliance is a good buy in the dips around the support region, in the last few trading sessions, we have seen huge selloffs and profit booking but the price has been making higher lows since the last couple trading sessions. It's on the road to recovery but will find it challenging to break the resistance which has formed over the last 3-4 months of trading.

We are not expecting any major news for the price to breakout quickly which happened in the last few months. There's still the saudi aramco deal to go through which may come as a suprise to anyone on the market.
Comment: Reliance has perfectly taken the Short Term Support Trend Line.
Comment: Reliance in heavy consolidation. Heavy Resistance on the upside. Any upmove is getting sold into.

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