>Reliance communication Technical Analysis feb 2009
Reliance communication at present levels can give a good trading setup.
A fall towards 160 levels should be bought with a stoploss of 155 for a target
of 185-195.
Chart shows a steep reaction to resistance at 240-260 which saw stock
falling steeply to 170 level with the kindoff structure in formation now
it looks like a short term bottom is in place hence we have the trading opportunity.
This view would be considered wrong if Rcom makes a new low without touching 185.
Read what broker houses say about Reliance communication
RESEARCH REPORTS
2 comments:
52 WEEK YEAR LOW IS 147.30 AT NSE
boss,
your analysis of rcom is spot on.....gr8 analysis...and u initiated the call when it was at 52 week and no reversal signs were there.....
regards
sangeeth.v
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