RELIANCE Chart Analysis

• The week that ended on Friday was very good for bulls or reliance.
• But Next week bulls has to face strong resistance levels.
• First one is the trend line resistance. They previous support level at 828 which may act as resistance.
• Stochastic is entering overbought level. Price is about to hit the upper Bollinger band.
• Most Important is the 50 Day Simple moving average at 824 levels.
• For bulls price should close above 50 Day SMA.
• Getting resisted at 824 - 828 levels can give a good short trade for reliance bears.
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