June 8, 2011

RELIANCE Intraday Update

  • Reliance Industries four hour chart with an inverted head and shoulders pattern.
  • Bullish only if price keeps its head above 964.
  • Break below 928 will favor bears.
  • Although we have a bullish pattern stock is in a neutral place from here it can go both ways. So wait for a breakout or breakdown before one take a large position.

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