February 16, 2012

RELIANCE Bearish Engulfing

CHART-II
CHART-I
  • Reliance is looking weak after a bearish engulfing pattern. It's also showing volume increase on a bearish day. 
  • MACD is looking good for bears. But the important line now is the 10 Day EMA Price need to sustain below it for sometime for the short trade to be in profit. 820 is the next support level. Trading above 855 - 860 levels may save the bulls from a fall.
  • RELIANCE TRIANGLE BREAKDOWN
By at

2 comments:

  1. SAMFebruary 16, 2012 at 12:14 PM

    @Anoop its really Strange that this Kirankumar also spamming on your blog also.

    ReplyDelete
  2. SanFebruary 16, 2012 at 12:32 PM

    @SAM

    I don't have a problem with analyst posting their link as long as the technical reason is explained.

    You have a nice blog as well. If you post any charts you can give the link at my blog.


    please try to call me as SAN which is my luck name.

    Thanks

    ReplyDelete

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