Tuesday 9 October 2012

Short sell RCOM (Reliance Communication) - Oct Series in Future segment

RCOM did have a good rally from low 46.55 to 65.8 and that is the end of Elliot 5 wave impulsive movement now it is time for correction as per charts and this time it could be a deep correction going below 46 levels

Reason : MACD has started to show a cross over at the top followed by DOJI symbol at the top of the price in candlestick chart and adding to that force index volume indicator on a downward trend



Summary

Target 1 - 55
Target 2 - 45
No SL required, as you can keep shorting on every rise

No comments:

Post a Comment