@ramnathmallah465, people knows that reliance will not fall to 1754. It's just a time pass post. Hahahaha..
kmarthi999
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@ramnathmallah465, my opinion currently it is in wyckoff phase D.it is completed the UTAD (compare the wyck off schematic at 5 min or 15 min)may get better idea .so it have high chance on downside if it breaked the AR .it is high chance to touch the day BOS 2044
ramnathmallah465
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@kmarthi999, wyckoff mostly used to happen in daily timeframe and very rare in weekly T.F. currently reliance performing intermediate reaccumulation which lasts more than 6-10 months. Reference - Anatomy of trading range by Jim Forte
UTAD as name suggest it comes into the picture when majority of distribution has been already taken place which can be seen in volume but in reliance volume keep on shrinking (earlier to 10th may) which indicate the deficiency of free float.
GAURAVJAIN0711
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Mind blowing analysis.. lets see now what happens
solacenator
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What's your rational here ?
ramnathmallah465
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@solacenator, its one of the accumulation type of wyckoff technique (operator technique), where operator has absorbed most of the supply available in the market (just look at the volume in Daily timeframe from july 2020 to may 21, goes on diminished).