After one cycle swing seen in reliance I am looking a reversal. The stock has a powerful resistance at 850. If it able to cross then we can see the stock going up to 920.
Indicators: we are seeing a bullish divergence which is been building from long days. We see this divergence in MACD. We have even seen a good crossover as most of the stock has been in a bearish mode. It is been a hotspot for many of the investors.
Fib Levels: As I had told above this stock may find resistance at 50%. If it manages to cross that level, it will reach to 920. Which will lead to 920 levels; the stock is looks potential and we may even see the stock moving more than 940 as the divergence is strong.
Moving Average: I have been looking for a long time. The stock is more sentimental towards 20 DMA. After confirmation of a breakout in 20 DMA this stock is found to be bullish.