REL CAPITAL, looking good on charts...
The daily
candlestick Chart shows that stock had been on a strong downtrend for
past few trading sessions. Infact, the stock has seen a decline from
Rs433 to a low of Rs390. Since then, the stock has not re-test this low.
The daily RSI is exhibiting strong positive divergences. Moreover, on
Tuesday, it formed an Inverted Hammer candlestick formation, it occurs
mainly at the bottom of downtrend and is a warning of a potential
reversal upward. We expect the stock to witness smart pullback from the
current levels. Traders can buy the stock above Rs401.90 with stop loss of Rs394.90 for target of Rs***. [get levels via SMS join us]
