Reliance Comunication

Here is also a good example of resistance becoming support.

By this chart we can say that 405~415 will act as a good support and the indications are bullish till the time 410 is broken.


SKP said...

U mean 410 is the resistance for Rel-Com?? What is it breaks and goes below that level (I bought it at 460 and it started sliding)

yndesai said...

Yes if it Closes below 405 just Sell to exit. While if it do not close below 405 you might think of adding few of RCOM to get it averaged.

While do NOT buy it below 405 even if your average becomes good as then the downward direction would be confirmed hence you need to then hold this stock for lot of time to even break-even hence its better to book small loss.

brightstar said...

Heloo Sir,

Y there has been a silence from your side. r u outstation, or plain ignoring the market. We are waiting for ur comments and recos in such market.

yndesai said...

Stop loss hit