RELIANCE INDUSTRIES Technicals

• Bears of reliance industries seems to be too strong.
• Price continue to go down. Stock is trading below 50 DMA, 20DMA and even 5 day low and high ema's. It is consistently closing below these moving averages.
• Since the stock is coming down after breaking a triangle, every rise will be faced with selling pressure as the stock is facing now. Break of 1007 was a great place to short. Again I suggested to go short at 958 in this POST, stock on friday made an intraday low of 946.
•  Adding to this there are good trend lines have formed as overhead resistance. I have shown it in 2nd chart.
• The only hope perhaps for the bulls is the positive divergence that's developing in daily chart which can negate all the negative things that i have mentioned above.
• RELIANCE INDUSTRIES LIVE CHART WITH EMA