Few days back had put a tweet on how Reliance and Reliance ADAG stocks are seeing action and is this an indication of top or momentum ?
— Nooresh Merani (@nooreshtech) July 26, 2016
Well the move has been followed up by a short term breakout in ADAG though yet to see a tick above 1040 on Reliance to confirm a short term breakout.
Disclosure - Reliance Capital , Reliance Infra and Reliance Power have been recommended to clients of QuickGains and Technical Traders Club . So we are biased. Please read the disclaimer . Do your own research and risk management.
We have seen a short term breakout and there is a near term top in all the cases. If we do see follow up beyond those prices will imply a much bigger trend change.
Reliance Power -- Can it follow up this breakout
Reliance Infra - Breakout today and up 5% ... Will it follow up beyond 620-630
Reliance Communications - 45-48 is an all time low and multi year low support as well as for last few months. Base is good but can it follow up ?
Reliance Capital - Personally think this is the best bet in the group.
Good breakout and can see some resistance at 460-480. Can it go beyond that.
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Securities covered above:: Reliance Capital, Reliance Power, Reliance Infra , Reliance Communications
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