June 20, 2010

Reliance communication bearish engulfing

BEARISH ENGULFING 
RESISTANCE


  • Reliance communication should close above 194 for its current upward momentum to continue.
  • But near the resistance area the stock is already showing weakness.
  • A Bearish engulfing pattern has emerged and if the stock is not able to go pass 194 quickly then it will go down to 170 levels .

3 comments:

  1. Thanks San... I do notice bearish engulfing with good volumes in RCOM...so is RELIANCE showing the same pattern..

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  2. @Bharani
    I just saw reliance industries and its showing the bearish engulfing. But it is very important to notice were the engulfing occurs.

    Both the B.Engulfing has come with good selling volume. Let's see what happens on monday.

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