RELIANCE COMMUNICATIONS
- As per previous report published on Reliance Communications, stock failed to close above its major resistance that was between 155-165 and from those levels stock fell down and so far made a low around 108. (Click here to see previous report published on RELIANCE COMMUNICATIONS).
- As per current analysis , stock is finding strong support around 106.50, if Ril Comm closes below its trend line support @ 106.50 and holds below then further weakness is expecting. But as long as stock holding above its trend line support down trend will not be clear and we may see come correction (as shown in chart no1).
- Also See - TORRENT POWER coming down from trend line suppport, will favor bulls once it closes above till then stock can see some correction.
- Intraday Tips - If Ril Comm hold and stays below 106.50 during trading hours then intraday weakness is expecting.
- As per chart no2, stock has witnessed selling after breaking its head and shoulder pattern and now at support.
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- Stock is also trading below its 20 DMA , as long as trades below bears will be favored as per moving average studies. Once stock closes above 20 DMA then stock will show first sign of bulls. Close Watch.
- Click here to see all the free trading reports (tips) published by us on RELIANCE COMMUNICATIONS.
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