It is breking trendline in weekly chart. It should come up else it will create worries in mind of bulls. And some reversal may not happen in this extended down fall in overall market. So keep reliance in watchlist with index.
TRADE wisely.
WE CAN JUST PREDICT.
Disclaimer: I am not a SEBI registered advisor , so before entering on my view plz ask your SEBI Registered Advisor . Profit is your and loss is your.
Reliance recently rallied heavily and needed a correction . All time high has been broken and reliance is managing to sustain above all time high with also a harmonic bullish bat pattern of a minor swing and also important fib numbers of different swings . Anything above 2360 levels in RIL is a reversal.
CMP 669
Good likely opportunity to Buy at Rs 620.
Wont Go Short here, though its 7.5% downside from here.
The upside potential from 620 levels seem enormous.
The leader of bull market has broken the trendline. Not expecting bounce back from here very soon.. Brokerage houses are bullish is also sign of end of the move for the stock in near term
Market ki saari ummedein "Mota Bhai" per tiki hui hain. Ab Nifty ko yahi bacha sakte hain.
Daily timeframe support coming soon
I'll go long at "one green candle (of course with full body)" once it tests support line on daily timeframe.
SL and Target will decide afterwards.
