Technical view by Nooresh

Reliance ADAG Pack- –Time to have a look- Bottoming out signs – Reliance Capital and RCOM well placed. Relinfra and Rpower still to wait.


To start with i have no affinity for the Reliance ADAG group or rather i prefer to avoid even taking a short term trade for almost 2-3 years now but technically the stocks seem to be giving signs of bottoming out and maybe its a time to have a fresh view on them and forget the earlier bearish bias.


Of all the ADAG group stocks the two best ones seem to be RCOM and RCAP and if Relinfra goes to 350 can have a look.



RCOM --- The stock is on the bottom of a long term trendline and channel with a possibility of a pullback to 100 in medium term. Downsides possible to 65-70.

Although i would be skeptical about the stock but people who are stuck at very high levels may actually look to average out.


Reliance Infra – A major support comes around 350



Reliance Capital – Again at the bottom of the channel but more comfort when it starts trading above 400 levels. The upticks have been on good volumes makes it interesting.


Although i may not have turned totally bullish on RCOM and RCAP but they are definitely on the radar as they may give good trading opportunities. And would suggest people who have been stuck at very high levels may actually be a bit patient and HOPE :) for better days in them and possible pleasant surprise of a 10-20% jump any time in Rcom and Rcap.


Happy Investing,


Nooresh Merani


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Article by Nooresh Merani

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{ 3 comments… add one }
  • Murtaza September 2, 2011, 17:01

    Hi Nooresh

    This is just to bring to your notice as well as other readers to have a look at GDL (Gateway Distriparks Ltd.). I think it is on verge of a LT breakout … since I am not having any data/charts I am unable to comment very confidently BUT 140 is a LongTerm price point which if broken can rocket the stock. Even 152 is a resistance imo …

    And yes .. the resilience of the stock which is outperforming the market … bounces are stronger, dips are smaller wrt the index etc. make this one stong ox of a stock.

    So would like you to have a look and give some comments.

    I am already holding 100 nos at 152 since last 3/4 years back (no averaging) and am looking at a price of 300-400 in the next 3/4 years as Logistics sector is one which will be best performer if the economy has to grow and with more importance being given to infratructure and transportation in the next 10 years.

  • Anupam September 3, 2011, 02:15

    RCOM AND RCAP should be held with a long term investment perspective or merely trading buys?

  • Ela Viswanathan September 3, 2011, 22:31

    BGR Energy and Bank of India are showing positive divergence in RSI. Can we average / start buying at these levels? Could see a similar divergence in some more stocks too. Your thoughts please.


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