August 7, 2012

RELIANCE Chart update

  • Reliance has given a breakout above the resistance line discussed in yesterday's post.
  • Price moved above 50 Week SMA.
  • Now bulls need a weekly close above 50 week SMA for the momentum to sustain. 
  • Weekly stochastic is nearing overbought zone so one should make sure that the stock sustains above crucial support levels.

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