February 15, 2012

RELIANCE chart analysis

CHART-II
  • Triangle discussed in the below chart has given a good short trade. Further weakness on hour closing below 838. This level may also act as support.
  • NIFTY RANGE UPDATED
CHART-I
  • Reliance fibonacci levels shows resistance near 78.6% Fib level.
  • But price has not given a sell yet. If price is able to close below 10 Day EMA along with a MACD sell signal we may see a correction in reliance.
  • Bulls of reliance need a daily close above 78.6% fib level for a possible move above 900+.
  • S&P 500 EOD UPDATE

3 comments:

  1. @San Do You mean 838 for the writeup below the first chart?

    ReplyDelete
  2. @San
    I feel ashamed to be thanked as against the selfless study you provide.
    thanks anyway for updating

    ReplyDelete