April 13, 2015
- Previous swing low in Weekly chart around 793 saved Reliance bulls from bigger correction.
- Daily chart shows price trying to move out of the bearish falling channel.
- Having said that price is moving towards major resistance levels like 200 SMA and previous broken support levels which may act as resistance.
- So reliance needs to cross 200 SMA and the above mentioned price level for a major trend change to happen.
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.