October 2, 2017

RELIANCE Industries Chart analysis

  • Month candle not looking exciting for bulls. Price action near historic resistance levels is looking weak for now.
  • Daily too is trying to make a Top. But all is not lost for Bulls. Daily is nearing crucial support levels around 100 Day SMA and possible channel support around 760 levels.
  • Bears will gain more strength if the above mentioned levels are not held on closing basis. 
  • Bulls may hope to see a bounce from 100 Day SMA.