Embark on a journey of strategic investment as we dissect the growth potential of Reliance Communications (RCOM). In this detailed analysis by NEOALGO, we navigate the intricacies of RCOM's narrative, shedding light on key indicators that shape its future trajectory.
Resilient order blocks, promising upward trends, and a noteworthy EMA crossing collectively...
Yesterday's indecisiveness in the form of Dozi and today's up move crossing 4/1 descending angle signifies return of bullishness in the scrip. We will have to wait closing price to conclude its crossing of 4/1 angle.
Hi traders, RCOM is still Bullish. Don't miss this long.
As per my analysis, price action shall further move up to the below targets.
Entry: 12.35 (or) Entry @ CMP
Take Profit: 24.70 (TP1) & 37.05 (TP2)
Stop Loss: -2.50
Risk Vs Reward Ratio: 1.66
Go long the RCOM ; Good Luck
RELIANCE COMMUNICATION, IMPULSE PATTERN with reversal formation at the end of the trend.Nobody will belive this stock will go up but the fact is that it will bounce like a hell up.As per shown chart levels.
www.tradingview.com
Reliance Communications: down 50% since April. P/BV at around 0.2x. Even though the telecom market in India is extremely competitive, we do not think Reliance will default on its debt or go bankrupt. Maybe a deep value buy.
