- Daily chart of reliance industries shows price contraction which has to be crossed on closing basis for a bigger move to happen.
- Price staying above crucial moving averages till now. Bulls need to protected 50 Day SMA for a bigger up move to happen.
- Weekly chart is also near crucial resistance levels like the weekly cloud. Weekly cloud has to be crossed on closing basis for a bigger up move. 864 and 905 are crucial resistance levels.
- GOLD SUPPORT ZONE
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
October 16, 2012
RELIANCE Chart analysis
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