Reliance Industries: Jumps Up But Squats by Day End

RELIANCE INDUSTRIES Daily NSE Stock Chart Technical Analysis:


Reliance Industries jumped up today following the news about its tie-up with BP.   However, the price rise has failed to impress as the day ended with a negative candlestick formation.

Close & CMP: 985

Market Outlook:

• The price jumped up but then fell during the day.  Doesn't seem like the price will be able to break above the diagonal resistance.  
• Don't buy unless it comfortably goes above 1024.
• Reliance Industries आज शुरुआत में उछला पर बाद में अपने रेसिस्टांस लाइन के पास तक पहुँच कर वापिस गिर गया.  जब तक १०२४ के ऊपर नहीं जाता तब तक खरीदना नहीं चाहिए.

Technical Indicators:

• The price made a shooting star candlestick pattern with extremely high trading volume and a gap-up opening, and returned from near its long term diagonal resistance line.  Not a pretty picture!

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RELIANCE INDUSTRIES Daily NSE Stock Chart Technical Analysis