{"id":3430,"date":"2013-09-04T10:25:39","date_gmt":"2013-09-04T04:55:39","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=3430"},"modified":"2019-06-06T19:47:34","modified_gmt":"2019-06-06T14:17:34","slug":"reliance-communications-an-opportunity-for-a-quick-pop","status":"publish","type":"post","link":"https:\/\/www.fundsindia.com\/blog\/equities\/reliance-communications-an-opportunity-for-a-quick-pop\/3430","title":{"rendered":"Reliance Communications: Buy For a Quick Pop"},"content":{"rendered":"<p style=\"text-align: justify;\">Reliance Communications has been one of the better performing stocks this year. After a brief consolidation, the stock appears to be ready for the next leg of the uptrend. As highlighted in the Daily chart featured below, the stock has taken support at the red medianline and has been in a recovery mode in the past few trading sessions.<\/p>\n<a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/09\/Rcom.png\"><img loading=\"lazy\" class=\"alignleft size-full wp-image-3431\" src=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/09\/Rcom.png\" alt=\"Rcom\" width=\"1340\" height=\"588\" srcset=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/09\/Rcom.png 1340w, https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/09\/Rcom-300x131.png 300w, https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/09\/Rcom-1024x449.png 1024w\" sizes=\"(max-width: 1340px) 100vw, 1340px\" \/><\/a>\n<p style=\"text-align: justify;\">The stock enjoys a strong support at the Rs.110-113 range. The stop-loss for long trades may therefore be placed below Rs.110. Investors may adopt a SIP kind of approach to buy the stock as the stop loss is too rich for a long position considered at the current market price of Rs.128.<\/p>\n<p style=\"text-align: justify;\">The stop loss may be moved to break-even when the price moves 5% in your favor. We expect the stock to rally to the immediate target at Rs.155. Expect an update with higher targets once the price hits the initial target of Rs.155.<\/p>\n<p>(<em>The view mentioned here is based on Technical Analysis of historical stock price action. Please read the\u00a0<a href=\"https:\/\/www.fundsindia.com\/blog\/disclaimer\" target=\"_blank\" rel=\"noopener\"><strong>Disclaimer<\/strong><\/a><\/em>)<\/p>\n<div id=\"fcbk_share\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Reliance Communications has been one of the better performing stocks this year. After a brief consolidation, the stock appears to be ready for the next leg of the uptrend. As highlighted in the Daily chart featured below, the stock has taken support at the red medianline and has been in a recovery mode in the [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[121,120,89],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Reliance Communications: Buy For a Quick Pop<\/title>\n<meta name=\"description\" content=\"The Reliance Communications stock has been one of the top performers this year. The correction presents an opportunity to buy the stock. Read on.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fundsindia.com\/blog\/equities\/reliance-communications-an-opportunity-for-a-quick-pop\/3430\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reliance Communications: Buy For a Quick Pop\" \/>\n<meta property=\"og:description\" content=\"The Reliance Communications stock has been one of the top performers this year. The correction presents an opportunity to buy the stock. 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