Reliance Industries: In demand zone, price closed below 200DMA

28 thg 7, 2019

Where is it heading? Price is in the strong demand zone but closed below 200DMA. If Monday's closing is in green and above 200DMA we can expect reliance to bounce back from here. View negated if demand zone is broken. Note that price is also making lower lows, so chances of breakdown below support zone are high. Break below 200DMA and price making lower lows, its time for reliance to give up the support zone.