Wednesday, June 25, 2014
Sunday, June 22, 2014
The above is Reliance Ind daily charts. If we look back, after 2009 elections results the stock faced resistance at 1140. Soon after the stock sulked between 1140-920-900 and finally yielded. The support turned into resistance for a long time. After the 2014 elections results the stock again reached 1140 and has now tested the 50 ema. If this the launch pad for the stock then expect a blast above 1140 which can in turn propel the Nifty. Watch out for Reliance Ind.