for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Company News

BUZZ-India's Reliance Industries hits 3-1/2 month high; technicals suggest further upside

** India’s biggest listed firm by market value Reliance Industries Ltd gains as much as 2.96 pct to 1,219.4 rupees, its highest since Oct. 3

** Stock breaks above a resistance at 1,191.4 rupees, the 38.2 pct Fibonacci projection level of the uptrend from Feb. 6, 2018 low to Aug. 29, 2018 high tmsnrt.rs/2T7lxXW

** Breakout suggests stock may rise up to the next resistance at 1,245.45 rupees, the 50 pct projection level

** Breakout is supported by volume as the 5-day average volume is about 35 pct higher than the 30-day average

** Stock’s 20-day exponential moving average(EMA) had cut above its 50-day EMA on Friday, seen as a bullish sign

** MACD is positive and above its signal line

** Stock up 28.78 pct in the last one year as of Friday’s close, compared with the broader NSE Index’s 0.83 pct gains in the same period (Reporting by Gaurav Dogra)

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up