Support Levels: Reliance Industries
Reliance Industries has been in a downtrend for a long time.
There is strong support around the 1242 levels.
Other important support levels are 1198, 1109, and 984.
Breaking the current support of 1242 increases the likelihood of reaching 1109 levels.
However, sell volume has considerably decreased, indicating a buying interest in the stock.
20EMA (black line) has to remain above 50EMA (orange line) in the weekly chart for significant upside momentum.
There is strong support around the 1242 levels.
Other important support levels are 1198, 1109, and 984.
Breaking the current support of 1242 increases the likelihood of reaching 1109 levels.
However, sell volume has considerably decreased, indicating a buying interest in the stock.
20EMA (black line) has to remain above 50EMA (orange line) in the weekly chart for significant upside momentum.
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