December 7, 2011

RELIANCE chart analysis

  • Reliance Bulls staying above 5 day high ema will favor an up move MACD is also looking good for bulls.
  • 38.2% Fib level is acting as resistance now. If it is crossed then price may move towards 50 Day SMA.
  • Bigger up move may happen only if price breaks and stays above 20 and 50 Day SMA.
  • Stochastic in Weekly time frame is moving down So this up move will face hurdles at important resistance levels.
By at

3 comments:

  1. jagannathanDecember 7, 2011 at 7:34 AM

    If you could mark the actual value of DMA it would be additional benefit to the viewer.I hope i have not disturbed you

    ReplyDelete
  2. SanDecember 7, 2011 at 7:38 AM

    @jagannathan
    20 SMA is at 817
    50 SMA is at 824

    Many people have suggested this to me but forgets to add it every time.

    Thanks for reminding.

    ReplyDelete
  3. DKGDecember 7, 2011 at 2:34 PM

    HI SAN,

    MY SBIN TGT 1970 ALMOST ACHIEVED. THANKS

    ReplyDelete

Subscribe to: Post Comments (Atom)