Reliance outlook

duraim Updated   
On Fibonacci retracement Reliance is nearing 50% retracement level. Upon crossing this level, Reliance can be expected to reach Rs .945.
Comment: Although Reliance did not hold the 50% retracement, it closed above the trend line. And as we have MACD crossover, it can be expected to reach Rs.945 in the near term.
Comment: Today, we saw the price moving down from the 50% level. Tomorrow, we will have clear idea about the movement
Comment: Reached our target. As it closed above 950, we can expect it to reach 965(78.6% retracement level in the Fibonacci)
Comment: As RELIANCE has closed below 23.6% on Fibonacci, we can expect it to reach 870 levels on the downside

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.