RComm is above 20 and 50 day exponential moving averages: Rohit Shinde

Rohit Shinde, Independent Analyst in an interview with ET Now talks about Reliance Communications.

On the charts Reliance Communications?

Approximately in the end of April it cracked from 117 and came down extremely very fast. It came down along with all the other telecom stocks and now its taken a very good support around 135. It stayed there for sometime, it bounced back also very nicely. It has taken out 150, very strong short term resistance. Now currently at 173 it is above the 20 and 50 day exponential moving averages, good volumes now may be 180-181 will be a very strong point for this particular stock those people who have bought it maybe in a day or two something I think they should exit around at least 50% of their holdings around 181 because it looks unlikely to go above 181 in a hurry.