RCOM chart analysis on 11th April 2014

. . No comments:
Reliance communications (Rcom) stock was falling continuously for a long time. On 28th March 2014 it has shown given trend reversal sign by breaking above 124. Stock is rising since then and touched 138.4 yesterday. This is 30% gain from recent low of 106.75.Now the stock seems to be overbought on daily charts. It may correct to 128 levels. I am expecting it to take a strong bounce from 128 levels to 143 before elections.

Buy it between 128-130 with a strict stop loss at 126 for a target of 143. 

No comments:

Post a Comment