August 27, 2012

RELIANCE Chart analysis

  • Reliance Industries Weekly stochastic shows price nearing a sell signal.
  • Price yet to confirm a sell by closing below crucial moving averages. 
  • Daily closing below 20 SMA and a weekly close below 50 Week SMA will add strength to this weekly sell signal. 
  • If bulls manage to sustain above 50 Week SMA on closing basis we may see the resumption of the current up move.

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