Today's Top Gainer
Note:Top Gainer - Nifty 50 More
|Company||Reliance Industries Limited||
The stock is trading in a strong higher top higher bottom chart structure and has given a strong recovery by forming a bullish hammer candlestick pattern on the weekly chart. The stock has also given a bullish Ascending Triangle pattern breakout on the daily chart, indicating a continued upward momentum.
|Buy or Sell||Buy (Cash)|
|Stop Loss||Rs 1365|
|200 D-EMA||Rs 1178|
The stock has given a pullback after facing a strong resistance around its falling trendline. Tracking the hourly chart, the stock has given a bearish Flag pattern breakdown, indicating a downward momentum. ADX indicator, which measures the strength of a trend, is also indicating a negative bias for the stock, as –DI is quoting above the ADX line and +DI. We expect Zee Limited to trend lower backed by the build-up of short positions in its April contract.
|Buy or Sell||Sell (April Future)|
|Stop Loss||Rs 416|
|200 D-EMA||Rs 462.5|