How to trade RELCAPITAL today:
Today’s intraday trading stock recommendation is on RELCAPITAL, as the stock has consolidating below its 3 days support level of 417 so we may see huge selling coming in the reliance capital stock. So near term trend for this stock will be bearish and we are trading in the direction of the trend, Hence we will look for selling opportunities as long as the stock is below 425 level. Intraday traders can go short in this stock near 411 levels for targets as 405 and then 401 levels, we also advice to place the stop loss near 414 levels. High risk traders can go short on RELCAPITAL August futures contract or accumulate RELCAPITAL august put options contract for intraday trading. Also today the stock is trading down by 1% and we expect more selling coming in this stock. Even there was jump in the open interest data as it added more than 2.3 lakh shares in open interest OI, where as total open interest was at 35 lakh shares. Taking a look at the technical charts we see that the trend is more likely to be bearish for today, So this stock may attract more sellers on every pull back today, but below 414 the selling will be aggressive. The volume is also very high and increasing with constant selling. Technical indicators are also in favor of this trade, RELCAPITAL stock. We also advice investors to stay away from this stock, untill the direction is clear or the trend turns bullish again.
Even the Nifty futures is trading very negative today loosing almost 1.2% that is 56 points. So one must look for selling opportunities in nifty futures also, accumulate the nifty 5100 put options
i have 2 lots of relcapital futures short at 406 avg price. should i book profit or hold position. guide me for this trade.
Bhaveek Patel says
Atharva you are making huge profit right now, so you can book 50% profit on Monday and keep the rest positions with stop loss at 375 level.
Ajay Kumar says
reliance capital recommended to sell ,but tell the date to take position.
Ajay Kumar says
please tell me to take position on intraday trading tips posted on your site for the month of sept .
ravi kant says
Thanx for useful technical knowledge. In intraday tips , pls. giv date also for nonconfusion.