RELIANCE.. retest of 200 dma?. extremely weak
RELIANCE has formed a bullish engulfing candle today at close. although it is very weak and maybe only a halt in the down move..
tomorrows candle given an idea of the short term whether its rebound or just a one off day from oversold levels.
stock broke through 200 dma with no resistance and currently tested an important weekly daily support.
stock which breaks 200 dma usually retests that level some point.
todays lows will be stop for any LONGS, and and today's low will will be stop for any SHORT if the low of today is broken..
tomorrows candle given an idea of the short term whether its rebound or just a one off day from oversold levels.
stock broke through 200 dma with no resistance and currently tested an important weekly daily support.
stock which breaks 200 dma usually retests that level some point.
todays lows will be stop for any LONGS, and and today's low will will be stop for any SHORT if the low of today is broken..
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