Technical Analysis of Reliance EOD charts

By | June 11, 2009


Reliance the Index Heavyweight and the Poster Boy is truck in a Channel from 2128 to 2330 and currently trading at the top end of channel.Prudent trade will be to take long only above 2350 for a target of 2400 2478 2520

and if suppose if 2087-2094 breaks on down side than we have a huge gap to fill from 2087 to 1963 as shown in charts.

SO better trade with levels and njoy he ride on both upside and downside which ever comes.

MACD is showing a Bearish movements and RSI is slightly overbought on Charts.

Pivots for tomorrows Trade
Resistance 2324 2346 2367
Supports 2282 2261 2239

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