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Buy Reliance Capital, target Rs 480

Traders can accumulate the stock in the range of Rs 420-426 for the target of Rs 480 and a stop loss below Rs 399 can be kept for all long positions.

 

Reliance Capital has formed a Bullish Harami pattern on the weekly chart which suggests waning bearishness. On the daily chart, the price has moved above its 50-exponential moving average (EMA) which suggests a shift in prevailing trend from negative to positive.
In addition, positive divergence is visible in the momentum indicator RSI (14) on the weekly chart. Traders can accumulate the stock in the range of Rs 420-426 for the target of Rs 480 and a stop loss below Rs 399 can be kept for all long positions.
MORE WILL UPDATE SOON!!

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