Premature H&S Formation in Reliance

Reliance after making double top near 1320 levels; is just forming a head and shoulder pattern which is yet to be confirmed. Below 1200 stock is all set to test 1125/1086 levels. Keep a close eye. And if nifty will fall then this has to be led by Reliance and other heavy weights. However time will say if it breaks down or not. Below 1200 it will become a perfect shorting candidate.

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