1. Volume Analysis: After 24/4/20 Volume on Reliance day Chart has been keep on decreasing with the rise in price. So, it mean Institutional investor or trader are not bullish on this stock.
2. On 7/5/20 , Reliance Close the price at Up moving 3 Drive Pattern on hour chart and complete the same with 1.26 level ( Near to 1.27 Fibonacci level). Rising Wedge Formation.
3. Today's Close price at major Resistance level from hour chart , It may form A Double Top Formation from here.
3. For Safe Trading Sell Below 1457 Target: 1434 , 1424 , 1400, 1360 ( 1363 will be the 23% Retracement level. If we assume today price is the peak price from the last bottom)
4. Risky Traders - Intraday : Sell Below: 1486 Target 1468 , 1457 SL: 1506.
5. Positional Traders: Please Trail the Stop Loss
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