August 24, 2010

Reliance Industries technical analysis

  • Reliance industries continue to look weak on charts.
  • Stock has formed another bearish candlestick pattern(Bearish engulfing). And if the low of 958 is broken the stock may go down again. One should also watch 958 area carefully, since the stock is oversold this area may give support too. 
  • Earlier the stock broke 1007 area followed by a similar candlestick pattern as shown in the chart.
  • LIVE INTRADAY CHART FOR RELIANCE INDUSTRIES

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