NSE: Reliance Industries Momentum turning downside for 1058,1025
Updated
NSE: Reliance Industries
From High of 1329 fall to low of 1016
Since then consolidation range from October to Jan shifted to 1187 to 1058 until
1122 level is strong resistance
One can initiate short @ current level 1098 with stop loss @ 1122 and target 1058, 1025, 1016 in sight.
Break below 1025 will open levels for further downside.
Over all pull back from 1016 level to 1187 did not sutain. Charts showing sign of weakness
From High of 1329 fall to low of 1016
Since then consolidation range from October to Jan shifted to 1187 to 1058 until
1122 level is strong resistance
One can initiate short @ current level 1098 with stop loss @ 1122 and target 1058, 1025, 1016 in sight.
Break below 1025 will open levels for further downside.
Over all pull back from 1016 level to 1187 did not sutain. Charts showing sign of weakness
Trade closed: stop reached
Stop loss hit and trend reversed with break out above 1122.One can initiate long for a target of 1348 in short term. with stop loss 1122.
BlackJack
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