Reliance Industries, are we in bear cycle?
It is observed from the chart that we are heading into a bear cycle for Reliance Industries. Coincidentally, the Fibonacci retracement level of 0.618 aligns with the encircled area, indicating a potential support zone. Furthermore, the Gann support also appears to converge in this area, suggesting a strong support level. This convergence is highlighted by the cycle nearing its end around the encircled area, which may point to a possible reversal or a halt in the current downward trend.
Disclaimer: This analysis is provided for informational purposes only and should not be construed as investment advice. Always consult with a qualified financial advisor before making any investment decisions.
Disclaimer: This analysis is provided for informational purposes only and should not be construed as investment advice. Always consult with a qualified financial advisor before making any investment decisions.
Note
what a sudden selling....
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.
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.