Technical Analysis on Request: Reliance, Why trader are bullish on Reliance?

From last few days Reliance is a buzz in the mouth of every investor. In my last article I had only given my views on Reliance. Today, I will let everyone know why traders are bullish on Reliance?.
Click here to read my last article 

 As per the current scenario the stock has given a bearish breakout and the stock has started correcting as you can see in the chart below

 "Inside Funda"

From last April 1st 2014 both Relaince and 13 Urea companies have failed to settle the price of natural gas supply rate and the issue had knocked the door of our oil minister Veerappa Moily. And the issue of keeping gas price below half of the global price is the main funda behind. So, Moily Had given a press relies saying

"When the proposal came to me, I rightly ordered that after the model code of conduct is lifted, (the) price may be announced for the quarter July-September and also for the quarter April-June, as per the approved guidelines by the cabinet,"- by Mr Moily 

What is the problem?

RIL and urea companies failed to settle the key terms of gas supply from 1 April on expiry of the five-year contracts that priced gas from the eastern offshore KG-D6 fields at $4.205 per million British thermal unit (mBtu). While RIL agreed to continue supplies in the interim period, the dispute pertained to the rate at which consumers should provide payment guarantees—the expired price or $8.34, which would have been applicable from 1 April had the Election Commission not postponed implementation of the Rangarajan Committee formula till completion of the general election.

"Moily's Game Play"

Reliance and Mr.Moily is are under a pressure of Election and Moily had informed that he will implement the price with a special formula

But, India's main opposition "Bharatiya Janata Party (BJP), widely expected to win the most seats in the election and oust Moily's Congress party-led government, has said it would review the gas pricing formula if elected. " (as per a National Newspaper)

Conclusion: More than Technicals, I trust to keep a keen eye on News and information because that will drive this stock.

Source: livemint.com, Economic Times, NDTV 

Technical Analysis on Reliance Industries PART-2

As per now, we have seen a bearish breakout in the trend. It was obvious as there was a negative reversal building up in this stock. As the stock was between 840-925 for a long time. As per my analysis, the stock is healthy until the long moving average are giving bullish signal.  

Technical Analysis on SBIN (State Bank of India)

I m looking SBI for a correction. The stocks is at its resistance and if the trend line gets broken the stock will drop at its support 1837. 

Techncial Analysis on Request: Tata Global Beverage

There are no major buy signal on this stock. The RSI had made a negative reversal the upside resistance is 3% from the last closing price. Support is at 153. 

Technical Analysis on request: Adani Power

The stock is in a correction phase and it will correct till its support at 56/41. MACD has also given a negative crossover

Technical Analysis on Sintex Industries Part-2

In my last article I had given my views on sintex and the stock has 56% profit(Click here to read my last article). Now the stock will correct, as the oscillators are giving negative divergence signal. The stock has a resistance at Rs.51-52 and support at Rs.43/Rs.37. Keep looking at the trend-line if there is a dowside breakout the stock will rest till its support.  

Negative Divergence

Technical Analysis on request R Power

The stock has clearly given a reversal. If anyone have holding, it is better to  hold. The resistance are as follows 77/88/107/120. The stock is a safe heaven above 60. Below which, the stock will again turn a bearish stock.