Reliance...where is your support?
Reliance has been one of the biggest drags on nifty in the correction.
has been on a free fall for a while, in turn entering oversold zones on daily chart.
whenever rsi hits 20 21 it has given a bounce. right now around 23 on daily chart.
having said that it can stay in the oversold zone and go lower.
weekly 100 mov avg support is 1086 .
1086 to 1065 seems to be a support on daily chart.
Shorts to be careful as ca have rebounds can be quick ones.
has been on a free fall for a while, in turn entering oversold zones on daily chart.
whenever rsi hits 20 21 it has given a bounce. right now around 23 on daily chart.
having said that it can stay in the oversold zone and go lower.
weekly 100 mov avg support is 1086 .
1086 to 1065 seems to be a support on daily chart.
Shorts to be careful as ca have rebounds can be quick ones.
Trade closed manually
what a move..
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