We see that reliance is at a longer term support on the daily chart
. After the earnings
that stock has been melting like ice on fire. The RSI
has moved into an oversold zone, so a small bounce is not ruled out, the quantum
of bounce back will decide the future of Reliance Industries. MACD
is into bearish
zone, pullbacks may find resistance at 1455, 1480 & 1545 levels. If the stock successfully breaks there barriers then there may be a good chance of revival, else 1370 – 1280 zones are open.