Reliance Ind. at a crossroad.

Reliance Ind is critically poised between two trendlines. The upper one which is sloping downwards has halted any rally. The lower one is connecting the two bottoms and is a support line which the bulls have defended so far. The next few trading sessions will be critical. A breakdown will take the stock the gap area around 1580. A move higher will test the 2100 levels.