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

Kinetic Motors: Finally, Support @26.50

KINETIC MOTORS Daily NSE Stock Chart Technical Analysis:

Kinetic Motors remained unmoved on a day even when the stock market fell sharply.

Close & CMP: 27.65

Market Outlook:

• The price has the potential to rise again from the level of 26.50.
• Can be purchased as it rises above 28.50.

Technical Indicators:

• The price formed a Doji Candlestick at its support level of 26.50.
• This support seems strong and should be able to hold fort.
• The price didn't fall even though the market crashed, indicating further strength at this support level.
• The momentum is also low and should start rising very soon.
• In nutshell, seems like a good time to look at Kinetic Motors as a buy.

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KINETIC MOTORS Daily NSE Stock Chart Technical Analysis