November 9, 2010

Reliance Communication in a TRIANGLE

  • Reliance communication in a triangle formation.
  • Stock is trading above its 200 DMA.
  • If stock gives an upside breakout it may move away from 200 DMA which will be bullish for the stock.
  • A Breakdown of the support level will be negative and a retest of the 200 DMA may happen

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