Market sentiment is very positive for Reliance after sell off for a week. RSI levels are in sold zone. Is reliance stock is getting ready for the pump? May be~~ but wait and understand the chart with the possibilities.
Next resistance level is 2450-2460. this zone is also around EMA 10. so we may see a retracement at this zone. and if it happens than we have to be very careful at the retest of 2400 zone. if buyers are not strong, we may breakout towards downside. as per the volume, 2350-2360 will be the next support.
Please keep in mind that Reliance fundamentals are strong. New services launched by the company in last AGM can play major role in the market in upcoming months.
Always use the stop-loss and target. Safe trading.
Next resistance level is 2450-2460. this zone is also around EMA 10. so we may see a retracement at this zone. and if it happens than we have to be very careful at the retest of 2400 zone. if buyers are not strong, we may breakout towards downside. as per the volume, 2350-2360 will be the next support.
Please keep in mind that Reliance fundamentals are strong. New services launched by the company in last AGM can play major role in the market in upcoming months.
Always use the stop-loss and target. Safe trading.