April 30, 2013

RCOM Price volume analysis

  • Reliance Communication Chart shows resistance levels for the current up move at 109 and 113.
  • Price volume picture is completely different for Rcom this time. Current up move is supported by strong buying volume.
  • Weekly chart shows price trying to stabilize above Weekly Ichimoku cloud which is good for the long term trend of the stock. Now if the correction or dip towards the cloud happens with lesser volume then Weekly cloud may act as support for more buying opportunities.

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