Ascending Triangle and Cypher Pattern On Reliance

Apr 19, 2020

1. Ascending triangle pattern formation an hour chart. This state Reliance want to Long.

2. But on the formation of Cypher Pattern on the chart. X Point at Recovery Price of 880 , retrace to B Point , C Point to 1229 (Current Price)

3. Formation of XB=0.38 and AC=1.401.

4. Assuming XD form at 0.786 lead to the Formation of BC=1.407.

5. All above level satisfy for Cypher Pattern formation on an hour chart

6. "D" Point form at near Rs 955. So, Reliance will short till 955

7. Sell Below 1185 Target 1150 , 1130 , 1114 , 1040 ( This is not for intraday)