We have seen good recovery in last two trading days, Nifty has closed above 5000 after closing below 5000 on 18 Aug at 4938. Volumes were also increased yesterday compare to Monday, it was short covering which led Nifty above 5000. But rate of short covering or we can say reduction of Open Interest is less on Tuesday, it will be really interesting to see how OI goes increasing with rally.
One can go long in Nifty above 5030 with strict stop loss below 5000 for target 5120 and 5175.
Big boy Reliance is on recovery track and closed at 782.60, it has crossed 38.20% retracement and its RSI had shown divergence with price on Friday which is good positive sign for this stock. Any long position is advisable in Reliance for target 830 and 860 with strict stop loss around 750.
Happy Trading ....
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
One can go long in Nifty above 5030 with strict stop loss below 5000 for target 5120 and 5175.
Big boy Reliance is on recovery track and closed at 782.60, it has crossed 38.20% retracement and its RSI had shown divergence with price on Friday which is good positive sign for this stock. Any long position is advisable in Reliance for target 830 and 860 with strict stop loss around 750.
Happy Trading ....
See syllabus for Technical analysis training in Mumbai,India.
Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html
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