Reliance Ind - Key support
As global markets have corrected our markets have followed along..
Our market leader with the highest weightage is at a key support level.
The stock has fallen below its 200EMA (bearish sign)
If 1836 breaks then 1798 would be the first target and if that doesnt hold we could be in for a much deeper correction to maybe 1610. If someone is holding in cash below 1800 makes for a good exit.
ps: I dont think it will happen in one go but as a wave if global markets are going to cool off..
Our market leader with the highest weightage is at a key support level.
The stock has fallen below its 200EMA (bearish sign)
If 1836 breaks then 1798 would be the first target and if that doesnt hold we could be in for a much deeper correction to maybe 1610. If someone is holding in cash below 1800 makes for a good exit.
ps: I dont think it will happen in one go but as a wave if global markets are going to cool off..
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