Mustafa Nadeem
Reliance Industries is coming out of a long consolidation on the back of higher volume while the momentum indicators also show a positive divergence in the stock suggesting that the upside may continue with a possible target of Rs 1040.
If the stocks manage to stay above Rs 1040 then the rally may extend to Rs 1090. Traders should place a stop loss below Rs 930 for all long positions.
(Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.)
Disclaimer: The author is CEO, Epic Research. The views and investment tips expressed by investment experts on moneycontrol.com are his own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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