Buy and Hold....

Reliance Capital (BUY, above Rs657, Target Rs680): On the hourly chart, the stock gave an upside breakout in Thursday’s trading session. It suggests that the sideways range is about to end and may reverse into an uptrend. On Monday, the stock advanced by ~1% confirming the bullish set up. We continue to remain positive on the stock from technical perspective as the stock has managed to hold on to its short-term support of 10-DMA in ongoing market volatility. Any move above the levels of Rs657 is likely to re-ignite momentum in the counter. We recommend traders with high risk appetite to buy the stock above Rs657 with SL of Rs647 for target of Rs680.