Harmonic Patterns on bigger timeframe charts can be powerful. Reliance is going thru an Upward blast. This pattern has the power to stop this march ONLY if price breaks below 1230 as shown in the shaded PRZ .. The upper level of this PRZ is 1320 ... As you can see since past three days Reliance is not able to close above 1320.
If Reliance breaks 1320 and closes ...
We often wonder, why does a stock just stop dead and reverse at a price point... The harmonics which work in Nature, apply to markets too !
This is a perfect example of a Bullish Butterfly on IndusInd Bank H1 timeframe. Stock is already up 3% after tht.