1 / 5

Reliance Industries Detailed Technical Analysis 8 th June 2010

Reliance Industries Detailed Technical Analysis 8 th June 2010. The upside seems dented. Loosing momentum. Critical support exists at this zone. Post the steep pullback, Reliance is moving in a parallel channel.

laird
Download Presentation

Reliance Industries Detailed Technical Analysis 8 th June 2010

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Reliance Industries Detailed Technical Analysis 8th June 2010

  2. The upside seems dented Loosing momentum Critical support exists at this zone. Post the steep pullback, Reliance is moving in a parallel channel. Similar movements in past. But it tried to break the trend in recent one but failed. Observations

  3. If this area breaks decisively, it can lead to formation of corrective wave that will complete at 940 Short Term chart

  4. Summing it up Reliance has a lot of upside scope. It is trading at about 66% of the previous high (3000+), and has room for upside. Technically, it has failed twice to move up. It has been trading in a zone without much forward momentum. It is trading near to it’s critical support of 980 and below that there might be a start of corrective wave. This wave might end at 940, but it can might give birth to further corrective waves which might ultimately take it to 800 zone. On the other side, if 980 holds, it’s a buy. And once 1030 breaks, it’s a buy for 1120 target. The only factor: 980.

  5. HYBRID Brokerage Making losses in trading? Or spending 5000-10000 per month on advisor’s fee? Now no need to do that. Presenting HYBRID Brokerage service by ActiveTrades. Must see. SMS ACT to 9611124269. Visit www.activetrades.in or Call 011-47606811 or 9015666811.

More Related