With strong volumes in the green candles, Reliance Industries displays the bullish falling wedge pattern. In the upcoming days, we will likely see a good breakout in the 2525–2530 range, and in the coming weeks, we can forecast a rise upwards of more than 2600.
Reliance Industries Daily Analysis!
Inverted Head and Shoulder Pattern Formation in Reliance Industries on Daily Timeframe!
Does trend reversal will happen?
Does the clear downtrend will be converted into Uptrend?
NIFTY also forming the same pattern please look Nifty Analysis also by clicking on the below link!
As we know the Inverted Head and Shoulder...
Reliance is trading in the channel with an upward bias on a weekly chart.
2600 and 2710 are levels to watch out for.
Above 2710, 3253 is the next level where the price can meet resistance as per Fibonacci.
Strong support visible at 2331, in case of retracement.
Also, stock is above the 40 and 10 weekly EMA.