Jay_shree

Dealing with 4-chart "extensively research" at Reliance price...

NSE:RELIANCE   RELIANCE INDS

Volume vs. Price Action:

Points to be focus on:
  • Gap (run away type)
  • Invalid Doji (from the left to right Doji is invalid because of low volume compare to previous candle)
  • sequence of tails (sign of existence negativeness)
  • Interruption began to push price upward.
Red Alert : sellers will take action on the Red Alert zone 1542 to 1490, and price will T1 as target.


Fibonacci Retracement:
confluence zone 1353 to 1329 target
next target 1250 nearby if sellers will continue.


Wave analysis theory (unconfirmed):


Parallel Channel and Project:
T1 -1375 to 1380