October 25, 2018 / 5:14 AM / 8 months ago

BUZZ-India's Reliance Industries hits 3-1/2-month low; may fall further - Technicals

** Shares of Reliance Industries Ltd fall as much as 2.37 pct to 1,021 rupees, lowest since July 11

** Stock breaks below a support at 1,032.05 rupees, the 76.4 pct Fibonacci retracement level of the uptrend from June 28 low to Aug. 29 high (wave 3) tmsnrt.rs/2Rd3Bd3

** Stock also breaks below its 200-day exponential moving average, a bearish signal

** This suggests stock may fall up to the next support at 993.15 rupees, the 86.4 pct retracement level

** Trend Intensity rises to 22, suggests prices are trending downwards; MACD is also negative and below its signal line

** Stock down 15.12 pct in the past month as of Wednesday’s close, compared with the broader NSE Index’s 6.77 pct fall (Reporting by Gaurav Dogra)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below