Wednesday 19 June 2013

Technical view by Nooresh

Technical view by Nooresh

Reliance Inds – 850 is a major barrier.

Posted: 18 Jun 2013 11:32 PM PDT

Very recently had posted on Reliance at 790 being a risk reward buy. The stock did move up to 835 and continues to look good.

 

But now the real test for the stock comes at 850 barrier which if crossed could lead the index and head up higher.

 

RelianceBreakout thumb Reliance Inds – 850 is a major barrier.

 

One thing seems to be clear is stock has made a strong base at 770-800. So in coming weeks can expect it to cross 850. This makes the stock a buy on dips closer to 810 with sl of 785 now

 

Nooresh Merani

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Related posts:

  1. Reliance Inds – Strong Support or Head and Shoulders ?
  2. Reliance Inds – Re-test of Breakout
  3. Reliance Inds- 730-740 a tough barrier. If closes above major trend change.

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