There has been a significant change in leadership,among pivotals..especially in the last rally from 3916 around.larsen ,sbi,bhel,reliance have clearly been outperform by it majors, auto majors and the likes of icici bank and tata steel.
As shown in the charts of previous post,i think stocks like sbi and larsen and r-cap, are on the verge of a break..my favourate set-up suggests a BREAK-OUT..(on the upside)but the crucial answer lies , in weather reliance results are factored in the current prices or not.
today morning if reliance opens low and recovers fast..and stays above the lows for some time,we have the answer.
IN that case , we are clearly headed for the tgts at 4700 and 4850..soon.
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