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Reliance Sanny
Reliance Sanny
Reliance Sanny
Recommendation – BUY
Target price-1100
The stock is in a medium term uptrend. It is being supported by good rising volumes and
has moved above its resistance level of 1000.
The stock is trading above its 5 day moving average with 5 day above 15 day and 15 day
moving average above the 25 day moving average.
The MACD is above the zero line and is rising steadily confirming the uptrend in the
stock
The trend in price and volume is being confirmed by the RSI which is also in upward
trend with a value of 50% which indicates that as of now it is not overbought but is
moving in that direction.
The stochastic also confirm the trend with the %K line crossing above the % D line.
The momentum line is above the zero line and is rising with a present value of 100.
Therefore, from the above all analysis it is recommended that the stock can be bought
with a stop loss of ` 975.