Reliance Montlhy Chart with EMA 55.
Reliance is tracking high-growth markets since Nov 2016 and behaving like one of the large-cap tech stocks on Nasdaq. As the stock pivot's into a debt free company, are we going to witness another consolidation period? Today's price action was quite interesting, as the stock tried to scale its previous highs of Nov 2019. The monthly chart pattern has maintained its overall bullish stance despite the sharp fall in March 2020, allowing the stock to retest its pre-Covid highs. If the stock corrects, watch out for EMA 55 supports that are currently a bit away, Daily around 1327 levels and weekly around 1335 levels.
Disclaimer: All the index, stocks, futures, options ideas discussed herein, in this presentation, are not my recommendations for the purpose of initiating a trading position. I am not a SEBI registered Advisor. Investments are subject to market risks and you may consult your personal investment advisor prior to making investments.
Reliance is tracking high-growth markets since Nov 2016 and behaving like one of the large-cap tech stocks on Nasdaq. As the stock pivot's into a debt free company, are we going to witness another consolidation period? Today's price action was quite interesting, as the stock tried to scale its previous highs of Nov 2019. The monthly chart pattern has maintained its overall bullish stance despite the sharp fall in March 2020, allowing the stock to retest its pre-Covid highs. If the stock corrects, watch out for EMA 55 supports that are currently a bit away, Daily around 1327 levels and weekly around 1335 levels.
Disclaimer: All the index, stocks, futures, options ideas discussed herein, in this presentation, are not my recommendations for the purpose of initiating a trading position. I am not a SEBI registered Advisor. Investments are subject to market risks and you may consult your personal investment advisor prior to making investments.