Breakout Stock - Reliance Industries
Updated
This is weekly timeframe.
It took support at 0.38 fibo level.
Gave breakout.
As per flag pattern the target comes 3600 levels it's seems way too high and may take yrs to achieve.
But we may see 2370-80 levels soon as it is resistance zone.
Sharp rise in volumes on buy side on weekly timeframe.
Let's see what happens.
This is my own analysis and only for information purpose.
It took support at 0.38 fibo level.
Gave breakout.
As per flag pattern the target comes 3600 levels it's seems way too high and may take yrs to achieve.
But we may see 2370-80 levels soon as it is resistance zone.
Sharp rise in volumes on buy side on weekly timeframe.
Let's see what happens.
This is my own analysis and only for information purpose.
Note
Made high of 2480.More than 12.5% in such a largecap stock.
Note
Made high of 2751 on 19th Oct.That's more than 25% from 2190 in less than 6 months in the largest stock by market cap on NSE and BSE.
Like this profit can be earned in large caps too. No need to always focus on mid and small caps. Rumor killed.
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