headymuk

Reversal or Breakout ? Get ready for it

NSE:RELIANCE   RELIANCE INDS
Nifty 50 giant Reliance is forming symmetrical triangle pattern which is more clear in 60 mins time frame. If resistance line is broken it can give a good swing upwards, if stock fails to break resistance level then it will start moving towards the support line which is also a good swing for bears ( Note : It has already formed pinbar candle near the resistance which is a bearish candle ) so it has higher chance of reversing , but don't do panic or hurry entry into the stock , wait for the right levels which are mentioned in the chart. This is my personal analysis not buy/ sell call , this is for only educational purpose. Feel free to share your views !

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