Reliance at a Crossroads: Support, Resistance, and Earnings

All eyes will be on Reliance this Friday as its post-market results release is poised to dictate Monday’s opening. Technically, the stock’s dip to 1471 this morning put a significant support level to the test. A definitive close below this point would signal a potential downward move, eyeing 1435 and even 1396 in the cash segment within the coming days. Furthermore, July 18th and 21st are key time cycle dates to watch closely. However, if 1471 proves to be a strong floor and Reliance can push past 1512, we could witness a strong upward surge towards 1556 and potentially 1600 in cash.”