Reliance has given breakout of resistance trendline on daily chart along with very good intensity of volume, also it has been closed above 20WMA (Weekly Mid Bollinger Band) in addition to this macd in weekly is about to turn positive and daily has done positive crossover few days back, which is now uptick above zero line. Possibly wave 3 of 3 can now unfold. On the way up, it can rise higher towards the upper end of the rising channel which is currently pegged at 2918 coincides wave 1 and 3 both will be equal at nearly at same level. On the way down, RK's stop line and 20WMA , currently pegged at 2416 and 2340, will provide support in forthcoming weeks.
RK's Magic positive signals to go long breakout on daily time frame with good volumes weekly chart some findings are mentioned in snapshot macd in weekly uptick above zero line macd in daily positive rsi in daily chart uptick and now at 60.
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