August 23, 2010

Reliance Industries technical analysis

  • Reliance industries is trading below an important trend line shown in the first chart. Stock should break this trend line and trade above it for bullish moves to happen. 
  • Second chart shows how the stock has broken a short term trend line. But it is still trading below 20 SMA. 
  • Trading above 20 SMA means Trading above the trend line shown in the first chart which should be positive. 
  • If the stock moves above 20 SMA and makes a daily close above it I am expecting the stock to touch 1040 levels. I
  • f the stock gets resisted at 20 SMA and the broken trend line of the first chart It will be bearish in the short term.
  • INTRADAY LIVE CHART FOR RELIANCE INDUSTRIES
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1 comment:

  1. gauresh59August 23, 2010 at 8:35 AM

    http://www.4shared.com/document/smlas5sp/_2__MySAR_A__Future_for_23th_A.html

    Scripts to watch today : Bhartiatl, Bhel, HCL Tech, Infosys, JPAsso, LT, Maruti, ONGC, Ranbaxy, Reliance, Rcom. RelCap, Rel Infra, suzlon, Tatapower, Tisco, Unitech, Wipro

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