Reliance is down so far since May-June Phase (see the chart). And also if you notice closely there is no clear trend as price is moving from range to another range with small swings in between,This indicates that decline in price movement is weak and buyers are stepping in at every time stock makes a swing low (Bargain hunting).Right now the price action is moving inside a range so if you consider this stock you can play the futures by buying low and selling high for short term.In case if your are Intermediate/long term player you can consider buying it now or at still lower price. Hey it’s reliance man! Holding this company is not bad for long/intermediate term portfolio.
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As a trader,speculator and Investor- Balaji have more than a decade of experience trading commodities, stocks and Fixed income securities including as a senior trader with Vexes capital.He also mentors or teaches investors, traders about Financial markets and provide professional training for individuals combining Institutional experience with a technical grasp of seizing market opportunity. Since leaving the Vexes capital and Newyork city,Balaji has been working as Trading coach along with presenting seminars and writing for a number of publications.
Price Behavior Analysis-Reliance Playing in the Range
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