Reliance Infra - Bearish Targets

[cooldude]

The stock has made a classic bearish lower lows on daily and weekly charts and momentum is entering fresh bearish territory. The stock has also violated a two year intermediate trendline.Sell at current levels(655) and rallies and expect an initial target of 565 and a secondary target of 440.
Disclaimer : Trade at ur own risk. Charts for educational purpose only.

 

[rashmigupta82]

Good observation. Classic example indeed.

 

[cooldude]

There it is - the stock was one of the biggest losers on Friday cracking over a whopping 27%. Unless you bank the profits, it can be just paper profits hence book some and hold some