There is a very famous saying -When you are in the hole, stop digging.. In other words - Buy Low Sell High is a disastrous strategy when it comes to a stock in downtrend
Nifty is scaling New Highs but here's one stock that seems to be hitting only Lows
Reliance Communications Stock Chart
Picture speaks for itself
Now some might see it as a bottom but who knows. God knows how many such bottoms stock has made on its way down. It might well be the bottom but is it worth pursuing.
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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