closes below 5 dma.
among the indices only nifty IT is showing some strength.
the way divergence between price and oscillator is visible in the chart.
further down side is expected.
it is to be some how reliance reacts to its result (some says it has beaten the estimates and according to one web site it is below estimates)
how ever in the negative atmosphere if reliance reacts positively how much
it can help. Even after good results IT stocks had declined and opposite observed in case of baj finance.
if nifty violates the channel its decline may be accelerated.
probable support levels shown in the chart..
high probability of its touching 20 dma is there.
among the indices only nifty IT is showing some strength.
the way divergence between price and oscillator is visible in the chart.
further down side is expected.
it is to be some how reliance reacts to its result (some says it has beaten the estimates and according to one web site it is below estimates)
how ever in the negative atmosphere if reliance reacts positively how much
it can help. Even after good results IT stocks had declined and opposite observed in case of baj finance.
if nifty violates the channel its decline may be accelerated.
probable support levels shown in the chart..
high probability of its touching 20 dma is there.
