RELIANCE closes at 868.75 with a fall of -2.10% on 17 June 2011 with formation of Long Black Candle on Daily Price Chart. Technically, RELIANCE is looking extremely OverSold Charts. Major Momentum Indicators are in bearish zone. Buyer-Seller Force Index &TAIO are showing strength of Daily Price Chart.It may Bounc-Back From the Lower levels.
We Recommend to BUY - RELIANCE around 854
Target- 912/950
Stop-Loss – 835
Time Frame- 5-15 Trading Days
Editor’s Note : This Article is written by Vina S Singh, Senior Chartist at www.niftynext.com , which is a Technically Based quant Research Firm, M/S Durgapur Holdings in Durgapur, West Bengal, India that covers all Stocks, trades at NSE. We use Ami Broker Charting Software. You can reach the Chartist here mail@niftynext.com .
Editor’s Note : This Article is written by Vina S Singh, Senior Chartist at www.niftynext.com , which is a Technically Based quant Research Firm, M/S Durgapur Holdings in Durgapur, West Bengal, India that covers all Stocks, trades at NSE. We use Ami Broker Charting Software. You can reach the Chartist here mail@niftynext.com .
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