May 14, 2013

Reliance Industries Chart analysis

  • Reliance industries getting resisted at 38.2% Fib level shown in daily time frame.
  • Second chart shows a Bearish Death cross in daily chart. with 50 SMA falling below 200 Day SMA. Price has also closed below 50 and 200 Day SMA.
  • Now hope for bulls is the support line shown in 2 hour chart which needs to be held to avoid a bigger fall.

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