CRAME UPDATE : RELIANCE REACHING SHORT ENTRY LEVELS GIVEN ON MAY 15

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Dear Christite,

Here is the latest analysis about Indian stock market from Center for Research in Asset Markets and Economy (CRAME), Christ (Deemed to be University) Lavasa.

RELIANCE undoubtedly is a stock that managed to dodge the market carnage and gained significantly in the last two months. However the shorter time frame chart suggests profit booking and this could continue. The stock can find significant resistance near 1530-1570 levels. Upper range of this level can be used as a stop loss and any move towards these levels can be used to initiate short positions. Possible downside targets are marked in the chart. 

Refer the below link for chart



DISCLAIMER

The content provided in CRAME blog is for educational purposes only. CRAME or the analyst(s) do(es) not assume any responsibility for the financial decisions/actions made on the basis of the analysis presented in the blog.

Analysts

Prof. Binu P Paul PhD
Prof. Soumya V ACSI

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