Technical view by Nooresh

Reliance Inds – 850 is a major barrier.

Very recently had posted on Reliance at 790 being a risk reward buy. The stock did move up to 835 and continues to look good.


But now the real test for the stock comes at 850 barrier which if crossed could lead the index and head up higher.


Reliance Breakout


One thing seems to be clear is stock has made a strong base at 770-800. So in coming weeks can expect it to cross 850. This makes the stock a buy on dips closer to 810 with sl of 785 now


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