RIL after making a high of Rs 2369, corrected to 1835 levels. Since November 2020, RIL has underperformed NIFTY50. While NIFTY is making all-time high, Ril is consolidating in a range for almost a year.
It is remarkable that RIL is in the structure of making higher high & the price is moving northwards making rounding bottoms.
Higher low: 1835
Higher low: 1830
Higher low: 1876
Higher low: 2016
Recently RIL has also completed its inverse head & shoulder pattern, taking RIL to 2227 level. Now, RIL is at supply zone, if it breakouts from this zone, the stock might rally to its all-time high zone.
Before initiating any position, there should be an expansion in price & volume.
It is remarkable that RIL is in the structure of making higher high & the price is moving northwards making rounding bottoms.
Higher low: 1835
Higher low: 1830
Higher low: 1876
Higher low: 2016
Recently RIL has also completed its inverse head & shoulder pattern, taking RIL to 2227 level. Now, RIL is at supply zone, if it breakouts from this zone, the stock might rally to its all-time high zone.
Before initiating any position, there should be an expansion in price & volume.
Comment:
Stock near all-time high now
Comment:
2400,if retested is a good buy zone
Trade active:
2400 was retested, acted as a good buying zone.
Comment:
2671 can act as short term resistance.