Reliance weekly TF analysis (March 29)
current Trend: Double Bottom with morning star formation (need to wait it end of week for confirmation)
Two possibility:
1) reverse from this trend line support
(it consider as false break out from parallel channel and has high chance to reach top of
parallel channel(ST as of now)
2) if it breaks(major trend line is broken) it has protentional to reach 2000 level
Indicator:
1) 35 RSI is reversal point for Reliance in long term basics
2) MACD -Slight weakness found in histogram
Two possibility:
1) reverse from this trend line support
(it consider as false break out from parallel channel and has high chance to reach top of
parallel channel(ST as of now)
2) if it breaks(major trend line is broken) it has protentional to reach 2000 level
Indicator:
1) 35 RSI is reversal point for Reliance in long term basics
2) MACD -Slight weakness found in histogram
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.