August 1, 2013

RELIANCE Communication chart analysis

 
  • Reliance Communication daily chart shows a bullish engulfing pattern.
  • Daily chart shows support at 50 Day SMA. For weakness to resume price must trade below 50 Day SMA.
  • Weekly chart shows resistance at 150 - 151 levels. This level must be crossed on closing basis for bigger up moves to follow in the coming days.

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