RELIANCE chart analysis

CHART-II

• Triangle discussed in the below chart has given a good short trade. Further weakness on hour closing below 838. This level may also act as support.
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CHART-I

• Reliance fibonacci levels shows resistance near 78.6% Fib level.
• But price has not given a sell yet. If price is able to close below 10 Day EMA along with a MACD sell signal we may see a correction in reliance.
• Bulls of reliance need a daily close above 78.6% fib level for a possible move above 900+.
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