RELIANCE CAPITAL
- As per previous report published on RELIANCE CAPITAL , stock has shown weakness after breaking its support @ 540 and Ril Cap. made a intraday low @ 527. (Click here to see previous report published on Reliance Capital).
- Now daily chart indicates stock has closed below its 38.2% fibonacci retracement , so as long as stock traded below it support zone it will be favored by bears. And stock will find next support around 508 its 50% fibonacci retracement as shown in chart no1.
- Suggested Reading - TATA COMMUNICATIONS has closed above its golden ratio, Stock will favor bulls.
- As per Technical Chart no2 Reliance Capital is trading below 50 days moving average, so as long as trades below it will be favored by bears. Even stock major trend indicator is moving in -ve zone and also below level zero this indicates we can see some further weakness.
- Suggested Article - NSE trading and clearing holidays for year 2014.
- As per chart no3, stock is moving in down channel formation, so as long as trading in down formation it will be favored by bears, Once stock come out from its down formation and breaks it on upper side then sharp up move is expecting.
- Click here to see all the free trading reports (tips) published by us on RELIANCE CAPITAL.
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Nice Article. Thank you for sharing the informative article with us.
ReplyDeletesmall-cap
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