MaverickTrade_

Reliance Industries: In demand zone, price closed below 200DMA

Short
NSE:RELIANCE   RELIANCE INDS
Where is it heading? Price is in the strong demand zone but closed below 200DMA. If Monday's closing is in green and above 200DMA we can expect reliance to bounce back from here. View negated if demand zone is broken. Note that price is also making lower lows, so chances of breakdown below support zone are high. Break below 200DMA and price making lower lows, its time for reliance to give up the support zone.

Disclaimer

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.