Reliance | Trendline Breakout | Latest stock market news(3 minutes read)

Stock name: Reliance

Pattern: Trendline Breakout

Time frame: Daily

Observation:
The stock has broken out of a downward sloping trendline and a Golden cross of 50 and 200 EMA is also visible. However, there is an overhead resistance of 2700 levels and once the same gets taken out, we can expect the stock to pick-up good upside momentum.

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Disclaimer: This analysis is purely for educational purpose and does not contain any recommendation. Please consult your financial advisor before taking any financial decision.

News for the day:

 1) Q2 result update: SBIN
Consolidated Revenue up 15% YoY

Consolidated PAT 63% YoY

2) Mangalore Chemicals & Fertilizers successfully commissions ammonia energy improvement project

3) Happiest Minds collaborates with Servicenow to accelerate digital transformation.

4) Aegis Logistics, Arvind, Bajaj Electric, Basant Agro Tech, Bosch, Cantabil Retail, CARE Ratings, Chola Fin Holdings, Dr. Lal Path Labs, Filatex India, Godrej Consumer, Hindustan Foods, Honda India PP, Honeywell Automation, J Kumar Infra, Metropolis, Monte Carlo, NOCIL, NRB Bearings, Orient Bell, PI Industries, Suven Pharma, Taj GVK Hotels, Usha Martin, VST and Welspun India are some of the companies which will post their results tomorrow.