The big question everyone seems to be asking: Will Nifty breakout to NEW HIGH?
The stock that can help Nifty achieve that: Reliance.
This is how Reliance stock appears on the chart right now. A small Bullish move here will help Nifty Bulls in a big way
Reliance stock has a much bigger resistance at 1150 and consider this: Reliance stock has not made a big bullish move since CY2009. Hence, there is HOPE right now that stock is ready for a big move. If Reliance stock breaks out above 1090 and then 1150 - expect a very big move in the market. Will that happen? Bulls HOPING right now
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