There's a very big relation between the price action and volume. Sometimes we see there's a breakout in the chart but later it comes out to be a false breakout, reason being low volume. Here in reliance we can clearly see a breakout with big volume which can take a stock upto 1300 within 2-3 days. Buy at cmp with a stoploss of 1166.
Key Levels for NIFTY50 :
Upper Breakout~9127
First Target~9227
Interim Resistance~9350
Final Resistance~9485
**Lower Levels**
Lower Breakout~8823
First Target~8726
Interim Support~8602
Final Support~8486
Please trade with caution and consult your financial adviser before trading.
Key Levels for NIFTY50 :
Upper Breakout~8987
First Target~9072
Interim Resistance~9207
Final Resistance~9348
**Lower Levels**
Lower Breakout~8852
First Target~8743
Interim Support~8619
Final Support~8484
Please trade with caution and consult your financial adviser before trading.
Reliance stock price will probably reach 1330 area where it will face technical resistance of the 100D EMA and Upper TL of the structure.
Also, keep in mind that the market hasn't bottomed out yet. Once the economic shock from the COVID-19 Pandemic comes into the light, the stocks will start dropping once again.
Key Levels for NIFTY50 :
Market may open gap up, only trade when breaks and sustains the broken LEVEL
Upper Breakout~9175
First Target~9350
Interim Resistance~9500
Final Resistance~9715
**Lower Levels**
Lower Breakout~8854
First Target~8716
Interim Support~8556
Final Support~8365
Please trade with caution and consult your financial adviser before trading.
