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.
There is an opportunity to invest as the price action is moving up to Wave 3 after confirming and completing a regular flat corrective structure. Now we shall short corrections and high jumps in price movements. Target 1: 56 Stop: 49
I have observed an impulse from 45-53 levels and then a correction back to previous support. I believe another impulse will begin from current levels that will go up to 55-56 levels. it is assumed that it will be a Wave 3 and may extend to 63-65 levels. It is surely an ideal time to get in this one with risk reward favoring buyers.
Reliance Communication's stock is a good example of how investors clings to a failed investment despite having all evidence against its success. At some point it looks like people with indelible hope for RCOM's rise to their investment's breakeven point is suffering from masochism ;) There are so many people asking for investment in RCOM ( with usual argument...
RCOM LONG RSI says price is in range MACD says BUY Trend expected price 53.00 duration 14 days .
1.Double bottom test 2. In accumulation zone. 3. RSI divergence 4. Great Risk/Reward Be careful and follow the plan as two things can happen. 1. The trendline is down and if the price breaches the support, the stock can go down huge. 2. If the trendline breaks up, it can be a great Risk/Reward ratio. So plan the trade as mentioned and keep strict stop...
It has been trading at it is all time low where we can see accumulation and high open interest in futures contract. It is a good opportunity to buy this one at current levels with a strict stop loss at 46. RCOM new mergers and up gradation in services will be in news for next few months which will make it in spotlight to all other investors as surely that will...
RCOM is now near a major support of 46-49 range, a support at which RCOM has taken support previously at least 4-5 times. Going LONG at CMP of 49 with a strict SL of 46 gives a good RR of 1:4.
DIS STOCK NEAR IT'S LONG TERM SUPPORT AREA SO AM WAITING FOR SOME PRICE ACTION HERE ONCE WE GO NEAR ITS SUPPORT AREA I WILL TAKE LONG POSITION.ENTRY STOP LOSS AND TARGETS GIVEN ON CHART. HIT LIKE IF YOU AGREE WITH MY VIEW AND FOLLOW ME FOR MORE IDEA'S AND UPDATES,I REALLY APPRECIATE THAT. TRADE WITH CARE REGARDS KING999
Reliance Communication has been in a major consolidation phase in the higher time frame. In the daily time frame, there is a breakout and retest. Guess stock is good to make a trip higher.