Reliance Communications: What's Next?

RELIANCE COMM Daily NSE Stock Chart Technical Analysis:

Reliance showed a fall today but overall continued the sideways movement it has displayed since the past 7 days.

Close & CMP: 93.15

Market Outlook:

• It seems like the price has found a bottom at Rs 90.  
• If 90 is broken, the next support is in the range of 81-84.
• भाव आज फिर गिरा लेकिन ९० के सुप्पोर्ट के नीचे नहीं गया.  ८ दिन से रिलायंस कोम्युनिकेशन ९० पर सुप्पोर्ट ले रहा है.  अगर इस से नीचे गया तो अगला सुप्पोर्ट ८१-८४ के बीच में मिलेगा. 

Technical Indicators:

• Heavy trading in a sideways price movement with oversold indications, and a bearish engulfing pattern today. Tweezers candlestick formations have occurred since 8 days showing the good support that Rs 90 price level is providing.  The MACD histogram has shown an upward movement in the past week, which is a positive aspect that denotes that the bulls are not totally out of power.However, there is a probability this might be breached if NIFTY continues to fall.  

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RELIANCE COMM Daily NSE Stock Chart Technical Analysis

Fedders Lloyds Corp: Falls Back Below Resistance

FEDDERS LLOYDS CORP. Daily NSE Stock Chart Technical Analysis:


FLC fell again today and closed at 77.65

Market Outlook:

• The price now seems headed downwards, should find support at 73.
• भाव फिर से गिर रहा है और रेसिस्टांस के नीचे चला गया है, अब ७३ पर सुप्पोर्ट मिलना चाहिए 

Technical Indicators:

• The price has fallen back below its diagonal resistance with a bearish engulfing candlestick pattern and the indicators are saying that it might not be possible for the price to climb above this diagonal resistance anytime soon.  Somewhere in the first week of March '11, the price will face a decision point at Rs. 74 if the price remains in the current triangular price range until then.

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FEDDERS LLOYDS CORP. Daily NSE Stock Chart Technical Analysis