Reliance may enter downtrend
Reliance has broken an upward channel in its downtrend which started at 1300-level. The stock has also tested the lower band of the channel and fallen. This shows weakness in the stock. However, it has major support at 1033, 993 & 957 levels. RSI & Stochastic are in mid-range.
Sell Reliance with a S/L of 1160.
Sell Reliance with a S/L of 1160.
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