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.
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