srinivas1997
Long

Reversal at reliance industries

BSE:RELIANCE   RELIANCE INDUSTRIES LTD
The following are the list of things I would like to mention to support the trade plan:

Support and resistance accepts the trade plan.

Relative strength shows an over sold position and intimating a buy position in the stock

Volumes greater than 10 days average and leads to spinning top

Spinning top
Spinning top is a candlestick pattern with little body and same up & lower tails. Spinning tops generally conveys there will be a trend reversal in the scrip.

Fib retracement also supports the trade plan at 875 (50% level) and 860 (61.8% level)


Trade Plan
1st Buy - 886
2nd Buy - 862

1st stoploss - 875
2nd stoploss - 860

Target 956

Thank you and have a good trading day
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