Reliance Stock analysis report.
Reliance has formed Head and shoulder on Two years trend (around 2400 levels).
Resulting in downtrend and showing signs or testing 1800 Levels.
While Having this in mind
It has also formed Head and shoulder (Smaller one) supporting bigger one.
Target 1 - 2200 has been met and now sideways around this level.
Further breakdown will take it down to 2160 levels...
Post 2160, stock can be analysed about retesting 1800 levels.
Trade active:
Today stock is climbing up and it is moving ups to Target 1 which is now resistance.. 2242 levels critical.. need to watch if it crosses are retesting the resistance .... need to be carful if new entry to be taken for long or short
Trade closed manually:
Stock has now taken reversed at Target 2 and bouncing back on hourly chart... hoping down trend is over for this