CHART-IV
- Triangle of reliance is broken
CHART-III
CHART-II
- Price is getting resisted at the trend line shown below.
- For bulls price has to break and close the day above this line
- For bears if price stays like this it will be easy for them to push it down to the support line
CHART-I
- Reliance is trading close to its support and resistance lines in daily chart and should break one way or the other.
- Price has given a bullish engulfing pattern in daily time frame. But We need confirmation in the form of follow up buying for confirming the bullishness.
- Price is getting support from 20 Day Moving Average. But crossing 50 DMA will be a hard thing to do.
- 20 DMA @ 865
- 50 DMA @ 900 Note: Yesterday's Values
Good Work Sir
ReplyDelete@ SAN
ReplyDeleteWhat if we apply Elliot Wave theory to above scrip,
I read it as if it is in correction mode eith a and b visible, c to come up
I am trying to read it as per theory given.