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Short Term Stock: Buy Reliance Industrial Infra (RIIL), Target 773

By Bhaveek Patel Leave a Comment

This stock has shown a strong breakout above its resistance of 637 (50 DMA on 4 Hr. Chart). Today this stock is up more than 16% and is trading near 592. But at current levels we see this stock has become bullish and can test its next resistance of 745 in near term. On NSE, the stock was trading with huge volume of 3.4 million. Fundamentals of the company are very strong and healthy.

we recommend to accumulate this stock for short term, Enter Buy position around 670 – 695, for target of 745 and 773. Stop loss should be placed near 650 levels.

Definitely good stock to buy, with 12% upside potential in short term.

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Category: Midcap Stocks Tags: midcap stocks/ Short term Stocks

About Bhaveek Patel

Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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