November 30, 2011
- Resistance lines in daily time frame and Four hour time frame.
- Price getting resisted by the the resistance line in four hour time frame is low because of the high momentum of price But the resistance line in daily time frame may be tough to cross. Look for weakness at these resistance line in the form of Doji or bearish candles before going short.
- COPPER BREAKOUT
- Reliance daily charts are looking oversold. But weekly indicators are yet to bottom out and shows possibility of more downside to come.
- We may see an oversold bounce from daily charts which might give good shorting opportunities at higher levels.
- Stock will be under pressure till the weekly stochastic bottom out.