Heavy profit booking in RELIANCE in the last few trading session

RELIANCE made it's all time high in the last couple of weeks and the price has been range bound ever since with huge profit booking taking place by investors who entered in the months of June at lows of INR 1200.00 - 1400.00

Reliance will move again after this consolidation phase which may last for a couple of more days. Reliance tried to break INR 2150.00 range in the last week but the breakout did not last.

Trade active:

Reliance closed at INR 2095.00
Trade is very much active.

Trade active:

Reliance made a intraday low of INR 2047.00 which was a very good price to enter for long position. Reliance 1DAY chart was still on the extrapolated support line.

Relince made a huge breakout after a inverted Head & Shoulder formation development during the 9AM-11AM phase of the trading session. Once the breakout occured, it touched a high of INR 2147.00