Reliance Inds carries a weightage of 9.75% in the Nifty 50 Index. It has been the main stay for investors and funds for past decades. Also it has delivered the goods for the investors and will continue to do the same. Recent all time high made was 3029 on 03 June 2024. Earlier High was made in first week of March 2024 at 3024.90. So after 3 months attempts it made a double top and corrected. Earlier correction from March 2024 took it down to 2769 in second week of May 2024. Current correction took it further down to 2718.60 on 04 June 2024.
Trend decider level is at 2690 above which trend is positive. Momentum can be seen above the level of 2810. It faces a resistance at 2960 for that it has to cross and close above the level of 2870. For further growth it has to cross the level of 3050 and momentum can be seen above the level of 3140. Major squaring level come s at 2910 above which it will continue the growth.
Happy Trading !!!
N.B. Not a financial advice to buy or sell.
With usual disclaimers as applicable within the reach of this
beautiful trading analysis platform. Thanks to the developers
of the program for this opportunity to use it freely to
express our ideas to the community of traders.
Trend decider level is at 2690 above which trend is positive. Momentum can be seen above the level of 2810. It faces a resistance at 2960 for that it has to cross and close above the level of 2870. For further growth it has to cross the level of 3050 and momentum can be seen above the level of 3140. Major squaring level come s at 2910 above which it will continue the growth.
Happy Trading !!!
N.B. Not a financial advice to buy or sell.
With usual disclaimers as applicable within the reach of this
beautiful trading analysis platform. Thanks to the developers
of the program for this opportunity to use it freely to
express our ideas to the community of traders.