RELIANCE INDUSTRIES LTD

Trend line Analysis

196
Observing Reliance Ind Since long time. It was oversold according to RSI few days ago and just got out of the overbought Zone, while this period, it was following trend lines, I am observing a fall as it has broken lower trend line. Management is trying to raise fund through different Strategies, But now it is time should see some downfall and create great long term opportunities around levels of 1343, 1257, 1180, 1000. Before entering I would wait for confirmation. Chart showing small bullish candle, Gravestone doji and long bearish candle making evening star pattern on top of the chart which confirms the down trend. Reading Volume in evening star pattern, first candle showing high volume but forms very small green candle is clearly shows weakness in current trend ( Sellers entry), second candle Gravestone doji - confirms sellers monopoly ( sellers hijacking the trend) decent volume, Third Bearish candle - Confirming trend change with high volume completing evening star pattern, Trend change confirmation.

免責聲明

這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。