April 2, 2012

RELIANCE Industries Analysis



  • Reliance has given a bullish weekly candle.
  • Price closed at 23.6% Fibonacci level.
  • Price yet to takeout 20 Day SMA. Daily MACD too is yet to confirm a buy signal.
  • Price sustaining above 23.6% Fib level may extend the current up move towards 38.2% level and above it.
  • Breaking below 718 will negate the bullish opportunity and another break below 700 may happen.
  • NIFTY WEEKEND UPDATE


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1 comment:

  1. StockApril 2, 2012 at 4:41 PM

    Bucky is bouncing on support, which is also a big 38 Fibonacci

    If Bucky bounces up and away, it will be strong and fast.

    http://oahutrading.blogspot.com/2012/04/8000-pound-gorilla.html

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