September 11, 2015
Rel.Infra (NSE Cash)
BUY
` 332
` 348 - 345
` 380
5-10 sessions
335
332
360
380
Bullish
Rebound
from 61.8%
Source: Falcon (Chart time - IST 10.00)
A recent correction from the level of `435.50 precisely halted around the ‘Multi-year’ support
zone as well as the 161% reciprocal retracement level (of the recent up move)of `290 and
then the stock managed to give a sharp recovery of nearly 20 percent in merely three
sessions.
This bounce from the lower level too got retraced by 61.8% and after hovering around it for
four days, the stock prices are now on the verge of giving a good move on the upside.
In addition, the daily ‘RSI-Smoothened’ momentum oscillator is positively poised; providing
credence to above mentioned hypothesis.
Thus, we advise traders to buy this stock from current level to a decline up to ` 345 for a
target of ` 380 in coming 5 to 10 trading sessions. The stop loss for this trade set up can be
kept at ` 332.
September 11, 2015
Rel.Infra (NSE Cash)
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