What goes Up will come down, What goes down will Rise Up - This is Universal Law
Abiding by this law - Reliance Capital - The once sunken stock - declared bankrupt - Resurrected by Hinduja Group (IndusInd International Holdings) which bought Reliance Capital for approx. 9,600 Crore.
The effects of these actions are seen on the Charts clearly - The Phoenix Rising...
Stock analysis: Reliance Capital trading near important supply level, breaking and closing above 15 on weekly basis expect to reach the target given on the chart for long term with the stop loss level given on the demand zone (green) area.
Happy Investing.
Reliance capital more or less is on weak ground for last many months looking at its long term chart. But this week it has arrived at a very crucial level of 330. If it trades below it then it has full potential to test levels of 260 and below this 170. So in coming week stay short below 330 for target of 260 and long above 330 keeping stoploss of 325 for target...
On touch of line, long closest otm call 2 lots.
On break, long 420 PE 2 lots for targets of 430 and 412.5
Long 400 PE after hitting second target for 400
