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
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