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DevabratAcharya
Apr 10, 2023 4:27 PM

Reliance : Flag Code 

RELIANCE INDSNSE

Description

Technical Analysis :

Strength : Weak
Chart Type: Daily
Chart Pattern : Bullish Flag
RSI : Above 50
Price is above 20 DMA and Below 200 DMA
Expected target : 2360, 2400
Expected Support: 2277

The new expected Targets would be 2300, 2325, and 2350 if the stock reaches the support level before the current targets.

Comment

Comment

2360, Achieved!

Comment

Trade closed: target reached

2400, Achieved!
Comments
peace_lover
Hey that's nice technical analysis u have done by combining both flag & double bottom, really got impressed by this combination, cheers.. what about the head & shoulder pattern that u posted on the comments. how confident r u on that pattern too?
DevabratAcharya
@peace_lover, Thank you for the compliment. The short-term patterns are profitable, but we should be concerned if we see an H&S pattern in the monthly chart.
As we know, every pattern's success rate is 50:50. The objective of posting this pattern in the comment section is to remind anyone following this chart that even if you are in profit, be cautious in the long run.
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