SHORT TERM TRADE SETUP – “RELIANCE INDUSTRIES”
Reliance Industries has made a rising wedge Pattern and also has negative divergence on RSI (14). Bearish Engulfing Candlestick Pattern at the Top also confirms that Bears are getting active.
On Weekly Chart Price is perfectly moving into parallel Channel. Price has tested the Upper trend line of the Channel & Retraced back & made a shooting star candle.
So below Today’s low if prices closes on Monday then Price can correct upto 1575-1550-1500 levels
Disclaimer
I’m not a SEBI Registered Investment Advisor. Above Views are only for Educational Purpose. Equity, Commodity & Currency Trading has large potential rewards, but also Large Potential Risk. You must be aware of the risk and willing to accept them in order to invest in the markets. Don’t trade with the money you can’t afford to lose. This page is neither a solicitation nor an offer to acquire/sell any script. Please consult your financial advisor to take appropriate investments as per your risk profile. The past performance of any investments is not an indication for future returns.
Leave a Reply