duraim

Reliance outlook

duraim Updated   
NSE:RELIANCE   RELIANCE INDS
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
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