Reliance Communications: Falling Again ?

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:


Close & CMP: 107.65

• Reliance Communications faced resistance near the Ichimoku Cloud at 108 as expected, and is now falling back and has broken its support trendline.  The momentum has also peaked and the volume has fallen.
• No long positions should be entered at this point.  Only enter short term positions with small time window of liquidating the position.
• Think of buying only if it rises above 118.
• Reliance Communications अब गिर रहा है और सुप्पोर्ट ट्रेंड लाइन के नीचे भी गिर गया है.  अभी इसे खरीदा नहीं जा सकता है, सिर्फ शोर्ट पोसिशन लें.  अगर ११८ के ऊपर जाता है तो ही खरीदने के बारे में सोचें.  

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RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis

Reliance Communcations: Price Channel & Possible Resistance

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

• Reliance Communications has risen in a price channel throughout March.
• Current Close & CMP: 104.75
  
• The price channel leads directly into the Ichimoku cloud, and the circle is the expected point of resistance for reliance communications.  Buy only around 118-120, if and when the blue cloud is crossed.
  
• Reliance Communications पूरे मार्च एक प्राइस चैनल में  रहा है जैसा की चार्ट पर दिख रहा है.  जहाँ गोला बनाया है वहां पर रेसिस्टांस मिलने की संभावना है.  तभी खरीदें जब ब्लू बदल को पार कर जाये, करीब ११८ के आस पास. 

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RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis

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 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

Reliance Communications: Upward Journey Begins

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

Reliance Communications rose today and climbed back above its support line.

Close & CMP: 133.4

Market Outlook:

• The price seems to be headed upwards again.  There is an opportunity to buy.

Technical Indicators:

• A marabozu candle formed today
• The price climbed back above its support line at 132.50.
• A lot of people participated in rallying the price above its support line, almost twice as much trading happened today as compared to yesterday.
• The price is deeply oversold.
• There was a gap-down 4 days ago.  This seems like an exhaustion gap and the price could be ready to move up again.
• Rising above 137.5 will be a good signal.

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RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis

Reliance Communications: One More Day...

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

Reliance Communications fell again as expected, Open: 144, Close/CMP: 136.9

Just one more day and the price will have its tryst with destiny as it touches the support level of 132.  Watch the contest between the price and support closely.  If support wins and price bounces back upwards, there could be a good possibility of buy.

This post assumes you have read yesterday's post

Reliance Communications: Support @ 132

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

Stock price of Reliance Communications is falling like a missile from the sky.  Today it closed at 143.65.

Market Outlook:

• Where will this fall stop?
  The price should stop falling after falling another 11 rupees, at Rs. 132.
• If it starts rising after 132, good opportunity to buy and make money on this one (its been a while since anyone made money on this one)

Technical Indicators:

• The dreaded Head and Shoulders has formed recently, indicating that the price is going to keep pushing down further.
• The market bottomed out twice at 132 in the past 2 years.  This level is only 11 rs away from today's close.
• If market takes support of 132 and rises back, its a good time to buy.  Target can be decided only after it U-turns.
• In case it tumbles below 132, the next support is at 113.

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

Reliance Communications: Gap Down

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

The price had a fall throughout the day, opening at 174.8 and closing at CMP 169.9

Market Outlook:

• Price is close to support lines at CMP and so what happens on Monday will lead to further clues.
• No buy-sell signals today.

Technical Indicators:

• Fibonacci 50% support @170, and then further below at 160.5
• There are also long terms diagonal lines of support and resistance as visible on the chart. 
• All moving averages are above the CMP.
• The RSI is close to oversold levels, indicating price fall could slow down soon.

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis

Reliance Communications: Lines of Support & Resistance + Long Term View

RELIANCE COMMUNICATIONS Daily NSE Stock Chart Technical Analysis:

Reliance Communication is moving sideways again with a few swings here and there.

It is facing resistance by a 1.5 year old trend line as is visible here.  At 174, there is a moment of decision and the price will either push below and go down, or go above and remain up.

If the market rises, the next points of resistance are 190 and 209.

Looking at a long-term chart, Reliance Communications seems to be set up for a big move soon.  Considering the company and the steed it belongs to, this move should be upwards.  The price could suddenly start rising. Keep an eye on the price levels for this stock.  Expect sudden and big moves.

Reliance Comm Weekly: 25-29 Oct'10: Doji Candlestick

Reliance Communications Weekly Stock Chart on NSE Technical Analysis

The NSE weekly chart of Reliance Communications formed a Doji for this week.  It's a picture perfect formation, the stock price closed at less than Re. 1 higher on Friday than what it opened at on Monday.  What a super indecisive time for Reliance Comm!  The market is confused on what way this will move.

The week opened at 179.5 and closed at 180.1.  In between it made a high and low of 185.35 and 173.2.  

Outlook for next week:  The picture is not pretty.  The next week could turn negative price could fall back to end the week negatively.

Technical Indicators:

The moving averages look like creepers hanging from trees in the jungle.  The price has stayed below even the 20 week moving average for most part of the past 2 years.  And that's bad!

This week, it has crossed the 20 week moving average and touched its 50 day moving average.  Historical evidence shows that the stock price does not manage to stay above its 50 day moving average, and so breaking this level to rise upwards is going to take a lot of energy.

The stock is already showing oversold levels.  This means its a possible time for a downhill journey this week.  

The picture perfect Doji candlestick shows excessive indecisiveness amongst buyers and sellers.  Even then, the interest has not waned and the volume of trading is almost double the previous week.