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Stock Pick : Short term holding

There are two stocks for short term holding from NIFTY 50:-

  1. Reliance

  2. UPL

Reliance
Why trade this stock ?
  1. This stock has consolidated since a very long period of time. It has formed a descending triangle pattern (which is bilateral in nature).

  2. If it gives breakout on the above side, then you can buy above @2040

  3. It has potential after the breakout to reach @2340 in the next couple of week that only depends on the momentum of the breakout almost 15% ROI from the breakout level.

Entry above @2040

Stop Loss @1904

Target @2340

UPL

Why trade this stock?

  1. This stock has been in a downtrend since July-19. Now its showing reversal of it.

  2. The most crucial support level @405 where it has taken multiple time support again the price has taken support and trying to reverse from its initial trend.

  3. If it breaks @507 level then it has the potential to reach @698 levels ROI 38%

Entry @507

Stoploss @444

Target @698


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