Reliance is getting rejection at upper channel and getting support at lower channel.
It is currently using the 100 ema as a trend line and has been respecting it.
For any further movement it has to break the upper channel with consecutive green candles which is looking less possible now.
And it breaks the trend line with two consecutive red candles then it will proceed towards the lower channel which acts as support.
For any long term movement it has to come out of these channels with good volumes.
Keep a tab on the progress.
Play safe and Happy trade :)
Note: Views only for educational purpose. Consult your financial advisor before any trade.
It is currently using the 100 ema as a trend line and has been respecting it.
For any further movement it has to break the upper channel with consecutive green candles which is looking less possible now.
And it breaks the trend line with two consecutive red candles then it will proceed towards the lower channel which acts as support.
For any long term movement it has to come out of these channels with good volumes.
Keep a tab on the progress.
Play safe and Happy trade :)
Note: Views only for educational purpose. Consult your financial advisor before any trade.