March 31, 2015

Reliance Industries Trend update

  • First chart of Reliance Industries shows the Daily time frame with clear down trend in place. For now price has given a breakdown from a descending triangle pattern and is getting ready for another bounce towards the falling resistance line.
  • If 793 shown in weekly time frame acts as a major bottom or support zone a bigger bounce is possible. If this level does not hold Bears will further gain strength.

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