Reliance Industries: Near Support, But Will It Fall Lower?

RELIANCE INDUSTRIES Weekly NSE Stock Chart Technical Analysis:


Reliance Industries fell sharply this week.  It ate up all the growth it had taken in the past 5 months.

Current close & CMP: 1505

Market Outlook:

• Something big is about to happen in Reliance Industries, a good move in either direction.  Be prepared!
• Reliance Industries fell through out in the last week and is currently near support.
• The current support is at 995.
• If the stock falls below 995, then one can go short with expected target at 913.

Technical Indicators:

• Reliance Industries has been sideways since May 2009.
• Watch out for a breakout below 874.  If that breakout happens, go short expecting a very good amount of profit.

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RELIANCE INDUSTRIES Weekly NSE Stock Chart Technical Analysis