Reliance Industries: Could Rise Tomorrow

RELIANCE INDUSTRIES Daily NSE Stock Chart Technical Analysis:


Reliance Industries has been falling since 2 weeks.  It fell today as well, but it seems like the price is headed upwards again.

Close & CMP: 970

Market Outlook:

• The price seems to have completed its fall and there is a strong possibility that it will move upward again.
• Rising above 999 is a bullish signal.
• रिलाअनस industries का भाव अब वापिस ऊपर जाने के लिए तैयार है.  ९९९ के ऊपर अगर भाव जाता है तो यह शेयर खरीदा जा सकता है.  

Technical Indicators:

• Finally, some hope for Reliance Industries.
• The price made a hammer candlestick today after a long fall and there was huge interest in trading this stock amongst traders.
• Yesterday, the price had fallen below its support line, but today's increased buying shows that the market may be interested in driving this price above its support line @999 again.
• Buy above 999 and wait for reversal signals.

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RELIANCE INDUSTRIES Daily NSE Stock Chart Technical Analysis:

NIFTY @ Resistance Line

NIFTY Daily Chart Technical Analysis:

Nifty opened higher than yesterday.  It survived an early-day scare and rallied upwards to close higher than opening.

Open: 5910  Low:  5855   Close:  5948

Market Outlook:

• The market doesn't seem likely to fall tomorrow.
• Breaking 5970 is of significance.  There might be an opportunity to go long if this price level is broken, but wait for me to confirm before jumping in.

Technical Indicators:

• The market stopped going higher today after reaching its short term diagonal resistance line.
• There have been quite a few Hammer formations recently.  There is an effort to push the market down, but people are unusually upbeat and are not allowing the market to fall.  People are considering any dip in price as an opportunity to buy, pushing the market up again.
• Alternately, it also looks like the market is trying very hard to stop a big fall.  If the bulls run out of hope, there may be a big single day fall soon.
• Breaking 5970 is of significance, but sustaining this break is also important.  As of now, the market may lose steam by the time it breaks this level and start falling back again after doing so.

NIFTY Daily Chart Technical Analysis

Cera Sanitaryware: Struggling below Support Line

CERA SANITARYWARE Daily NSE Stock Chart Technical Analysis:

Cera fell sharply on opening, but rallied back up to close higher.

Open:  151.6, Close & CMP: 147.25, Intraday Low: 126 !

Market Outlook:

• The price is fighting to rise back above its support price at 152.
• If it rises above 152 and closes higher, that's a good time to buy this stock if everything else is looking okay as well.

Technical Indicators:

• A strong Hammer has formed.
• The day ended with a strong buy. 
• When the stock opens on Monday, it could initially fall.  If it manages to close above 152, that could be a good buy signal.  I'll try to update on Monday evening.
• If it doesn't rise above 152 and falls, 132 is where the next support is.

CERA SANITARYWARE Daily NSE Stock Chart Technical Analysis