Nifty and Reliance next move?

By | August 26, 2010

Nifty Daily Chart

As can be seen from Nifty’s Daily Chart 20 DMA has been a strong support in past 3 months and now again we are at the crucial juncture of 20 DMA.

If 20 DMA is held we are in for a new high and if not we can move down till 50 DMA at 5350 levels.

Will it Support this time remains a question which will be unfolded in coming few trading sessions?

RELIANCE

Taking support at rs 960 and if held for few more trading sessions can lead a rally upto rs 991 and on  downside can see rs 850 levels if low is broekn

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