SarthakMaheshwari

Short RELIANCE INDS

Short
SarthakMaheshwari Updated   
BSE:RELIANCE   RELIANCE INDUSTRIES LTD
Last 10-15 days(25 Dec - 6 Jan) it is trying to break down through its support line and now below the support line(Support line from 20 Nov - 24 Dec Approx) . If it breaks Fibonacci Retracement uptrend line , which it is about to and is very close to it . It can break up to 1500-->1450-->1400-->1350 . Also the MA 50 is about to cross above 9 MA which supports the short factor.
Comment: PS : Look out for Fibo trend line , the analysis is based on it. If trend line doesn't break you might as well exit positions , do the same If any positive fundamental news break out.
Trade closed manually

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