June 25, 2012

RELIANCE Chart update

  • Both the daily charts are looking negative with price closing below 50 Day SMA and 20 Day SMA.
  • But weekly charts are still giving hope for bulls of reliance. Price need to trade above 715 levels for the weekly chart to stay in favor of bulls.
  • Week closing below 695 which is the 5 Week Low EMA will negative this bullish possibility

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