GeniusTradingAcademy

Reliance is a Strong Buy. Very Bullish.

Long
NSE:RELIANCE   RELIANCE INDS
It has taken a support of 200 EMA and reversed and also after a short retracement it has reversed from 0.50% Fibo level and now taking the support of 0.68% and ready for a breakout. Also, it has formed a Doji , Inverted Hammer and Red Bullish Hammer as there was a little profit booking on Diwali. Buy for a easy target of 2090 as 2100 is a first resistance due to huge option selling and it’s unstoppable once it crosses 2100.

Comments

Reliance is in the process of forming an Inverse Head and Shoulder pattern which can be noticed in 2 HR Time Frame . Once it crosses 2102 the zone of neck line as well as resistance it can fly high
+1 Reply
@vageepn59 perfect!!
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RSI looks strong at 40.
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W Pattern as well.
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