- RELIANCE COMMUNICATIONS is facing strong trend line resistance between 155 - 165 as shown above, chart indicates stock will not give clear signals till stock comes out from its trend line resistance levels.
- Weekly Chart too indicates that stock facing strong trend line resistance around 155 and next resistance around 165. Even short term trend of Reliance Communications is not clear.
- Monthy chart indicates that stock is trading above 50 months moving average , indicates that stock to favor bulls as long as stays above. Chart also indicates that stock came down from 38.2% fibonacci retracement earlier if now breaks and closes above 38.2% fibonacci retracement in monthly chart then looks good for long term trade. Close Watch.
- Visit our blog daily for free intraday tips on stock market.
- Stock was on news - RELIANCE COMMUNICATION is launching a share sale to institutional investors as it looks to reduce debt. The company said it would sell shares for Rs. 142.13 each, or a discount of 5 per cent to the floor price, but the company did not specify the number of shares being sold in the offering. (Source NDTV PROFIT).
Next Stock Updated on 25th June 2014, Wednesday Around 5:00 pm