Moneycontrol
Last Updated : Jun 14, 2018 11:13 AM IST | Source: Moneycontrol.com

Buy Reliance Capital, target Rs 471: Achin Goel

Traders can accumulate the stock in the range of Rs 420-425 for the target of Rs 471 and a stop loss below Rs 403, says Achin Goel of Bonanza Portfolio.

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Achin Goel

On the weekly chart, Reliance Capital formed a ‘Dragonfly Doji’ pattern which suggests that demand exists at lower levels. In addition, the price has moved above its 50-days moving average (DMA) and the momentum indicator, RSI (14) on the weekly frame is in a bullish crossover with a current reading at 45.74. The weekly MACD is also in a positive crossover.

Traders can accumulate the stock in the range of Rs 420-425 for the target of Rs 471 and a stop loss below Rs 403.

Disclaimer: The author is Head of Wealth Management and Financial Planning, Bonanza Portfolio Ltd. 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.
First Published on Jun 14, 2018 11:13 am
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