Off the rising Channel (pink )
Though inside the Wedge (rising or falling,...cant makeout)
For the last one month (since July 22) its consolidating.
RSI is at 50.
To mit seems like a Flag & Pennant and the rise would come in the Q4.
Key Levels for RELIANCE : INTRADAY CHART ANALYSIS
My views are for educational purposes only.
Please trade with caution and consult your financial...
overall stock now in a bear grip , but looking at risk reward on trade side
a pullback can be expected
thus will trade in two way
if it comes at 1370/80 zone will short
or if comes at 1290/1300 will accumulate with stop mentioned
Reliance Jio Infocomm Ltd, India’s most profitable telecom operator, has witnessed a continuous drop in its average monthly billings over the past five quarters and although it still outperforms rivals on this metric, analysts say the slide may finally put pressure on the company to raise tariffs.
On weekly chart, it is observed that the reliance is breaking out from a ascending triangle indicating trend continuation and strength in price action. Now it shall reach to 1140-1150 levels before it retaces back.