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.”

“AXISBANK has been literally flat for several weeks now. Unlike NIFTYBANK, it has not made a fresh high, so on July 14th, that will officially complete one year from its prior peak of 1339, registered on July 12th, 2024. At the current technical setup, the stock is not at all strong. However, to make things more bearish, the stock has to break 1155 on cash. Below 1155, we should see 1130 and 1100 on cash in the next few days. On the time cycle front, July 11th and July 14th are going to be critical cycle dates.