Reliance Communications: Important Triangle Tomorrow

RELIANCE COMM Daily NSE Stock Chart Technical Analysis:

Reliance Communications made a slight movement today, but nothing worth noticing.

Close & CMP: 95.05

Market Outlook:

• Buy if it closes above 96 or crosses 96 intraday with good volume on 23 Feb.  
• The level at 91 is serving as support.  

Technical Indicators:

• An inverted hammer-like formation occurred today.  Tomorrow the triangle gets completed so the stock should make some interesting movement.
• There is a sideways movement after a big fall (triggered by the probe news on ADAG).  
• There is also a steep diagonal resistance.  Breaking this resistance with good volume might trigger this stock price upwards and make it buy-worthy.  
• Going below 90 is further bad luck for RComm investors. 
• The way this stock has sustained the level at 90, let's hope for good news.

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RELIANCE COMM Daily NSE Stock Chart Technical Analysis

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