Friday, April 26, 2013

Reliance - Technical Update

  1. A multi month trend line was broke yesterday, but today the prices got back right below it.
  2. A false breakout perhaps.
  3. I would give it some time before making up an opinion. The 760 odd support level is quite strong.
  4. Once again patience is the virtue.


  1. Reliance trading below its 5dema at 798 appears weak and ripe to short if goes below 785 it is a SELL...

    1. I would give up on bullish hopes if this counter trades below 760. That is my make or break level.


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