We recommend a sell in the stock of Reliance Natural Resources Ltd from a short-term perspective. It was on a medium-term uptrend from March low of Rs 34 to its June high of Rs 112. However, the stock reversed direction after encountering significant resistance around Rs 110 in mid-June. Since then the stock has been on a medium-term downtrend. This downtrend got reinforced as the stock failed to breakthrough the resistance Rs 90 after multiple attempts and continued to decline. On October 26, the stock tumbled 5 per cent penetrating 21- and 50-day moving averages. With this the daily relative strength index (RSI) has entered the bearish zone and the weekly RSI is slipping in the neutral region towards this zone. The daily moving average convergence and divergence indicator has signalled a sell and is on the verge of entering the negative territory. Our short-term outlook is bearish. We expect the stock’s decline to continue until it hits our price target of Rs 72. Traders with a short-term perspective can sell the stock while maintaining a stop-loss at Rs 84.5.