mkt outlook...

ril resis was 1250(spot) and ongc at 879(recent highs), a couple of days ago ril moved up yday on low vol and ongc went down on high vol, so was expecting they may face resis at mentioned lvls.

ril fut chart, one could have easily taken a long near/below 1150 with a sl and carried, yday was a brkout closing and macd crossover but vol remained low, chart marked with square resis zone, impact of high and low vol on stock movement in past is clearly seen.

ongc shows high vol on downside and less on green closing, macd and other indicators are also bearish, quite weak as compared to reliance.



nifty chart, day before yday price brkout took place and upmove continued yday also but unable to take out 2868 and 2900 looks like a profit booking lvl going forward.