BNF may trade in a zone of 22750 to 21900. Breaking the lower zone of 21900-21800 will lead to 21600-21500. Upper zone of 22750-22850 would be acting as resistance. Breaking 22500 and sustaining above will change things completely for a target of 22700, 22900 & 23000.
Price may find hard to move beyond the SUPPLY zone. It may retest the DEMAND zone ~11300-11200. After clear accumulation, price will move up. Gap created on 4-Sep may be filled.
For week Sep14-17:
UPPER ZONE: ~11500 - 11600
LOWER ZONE 1: ~11300 - 11200
LOWER ZONE 2: ~11000 - 10900
Price may retest the DEMAND zone and will fill the gap created on 21-Aug. It may be side wards for a couple of days as the volume is clearly accumulated at lower price (~22250-22300) by big players. I guess price may be lowered further and clear accumulation may happen. If the trend line (Green line) breaks then the next DEMAND zone would be (~21600-21700). Every...
There is a divergence in monthly TF. Nothing can be predicted for RELIANCE. Anything can happen. But as per the charts, there is a divergence which is not good for new investments as old/big investors will offload their shares. Even the candle formation is outside the upper bollinger band which suggest the price may retrace down.