Pullbacks may find resistance at 1455, 1480 & 1545 levels

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.

Bharat Jhunjhunwala

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