April 7, 2010

Reliance Industries trading near resistance

Reliance industries and nifty seems to be in an uptrend. But one look at the daily chart shows a different picture for reliance industries. It is trading near the resistance of a multi month trading range. If it does not break out above 1150 with large volumes it may go down to 1020-1040 during this month and taking nifty down with it.