Ask any Value investor and he will tell you two things:
- Buy Low and Sell High
- Wait Patiently
But the question: How long? It has been now more than 8 years and Reliance stock still has not broken the resistance level of 1140-1150.
For investors who follow charts - Reliance stock is Avoid as long as it trades below 1140-1150. But one should keep a close eye because the day Reliance crosses 1140-1150 - it will surge like crazy and deliver amazing gains in no time. That's how market works. They don't make a move for long long time and then they make a huge move in no time.
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Disclaimer – The state of the market notes is Deepak’s perspective on the market. The column is purely for educational purpose. Nothing contained herein is a solicitation to trade or a recommendation of a specific trade. By reading this publication you agree to make no trade relying in whole or in part on the comments of the writers