ajaysharmajii2020

Wait For Reliance to Fall to the level Of Rs. 1450 to 1550

NSE:RELIANCE   RELIANCE INDS
According to below chart analysis it is observed that Reliance has a steep Chart growth due to various investments announcement for Jio . However due to this steep growth market will tend to correct itself also the same is supported by MACD That the share has been over purchased and it will tend to fall below .It can be traced by the use of Fibonacci Retracement to the level of Rs .1350 to 1450 as previous high levels of the share were around 1500 to 1650 . My bet is on fall when the price level will broke and reach around the said levels . Share your view on the same .

Comments

it won't fall to that level, might fall till 1800.
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Agreed. All rise is based on NEWS/Information on new investments. But Business is not yet done on such investments. My guess is , poor performance of refineries, new market forces after LOCKDOWN lift to decide on Value & accordingly price to come down.
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Sharma ji even though with good Q1 results, it will fall ?
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nice analysis
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