September 27, 2010

RELIANCE INDUSTRIES analysis

  • Reliance has given a spinning top near the support area of 993. If this level holds we may see a rally towards 1030.
  • The stock has also done a breakout above 50 DMA and a classic retest of the DMA, This should be followed by a rally to break the recent high made.
  • Above scenario possible only if Reliance trades above the range of 993 - 1007. Below 993 it will favour the bears.
  • INTRADAY LIVE CHART FOR RELIANCE INDUSTRIES

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