Reliance: Exhaustion Phase
Reliance is showing weakness after a huge rally.
Volume is almost falling on a daily basis with little to no price movement in scrip.
The stock seems to have entered into the exhaustion phase & now consolidating itself because of profit booking.
Please wait for the clear breakout either upwards or downwards.
Any correction will cause a breakdown But Since Nifty is in an uptrend overall, it is advisable to go for long positions.
Volume is almost falling on a daily basis with little to no price movement in scrip.
The stock seems to have entered into the exhaustion phase & now consolidating itself because of profit booking.
Please wait for the clear breakout either upwards or downwards.
Any correction will cause a breakdown But Since Nifty is in an uptrend overall, it is advisable to go for long positions.
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