look at chart.
we have reached very close to supports in rsi(5) and on trendlines. we must bounce from here to maintain upmove.
decisive close below 15200 can give deeper correction.
similar level in nifty comes around 4500.
those who have bought puts can plan to book profits around this support zone. if we brek below trend line then we can buy again.
oil marketing companies like IOC/HPCL AND BPCL has shown very good strength in todays lackluster market.
these 3 cos will get 10% share in OIL INDIA ipo at issue price.
Thanks Pankaj ji, for continuous guidance...you are really a gem of a person...
ReplyDeleteRegards,
Aseem
Dear Sir,
ReplyDeleteI could see a classic triangle in Reliance daily chart and it looks like it is more probable on downside breakout (1900 is support). If looked in conjunction with nifty, then nifty is also looking weak. Just my view. Let me know your view.
I sincerely appreciate your views.
Thanks,
Manoj
Dear Aseembhai,
ReplyDeletethanks a lot for yr kind words.
Dear Manoj,.
all most similar triangular consolidation is seen in most of large cap stocks. we r very close to end of this triangle and mostly by next week end direction will be clear. and move in breaking out direction will be big.
ioc/hpcl/bpcl are showing good strength
ReplyDelete