Reliance has formed H&S & seem to be in process of making a top!

2024年9月24日

RELIANCE seem to have formed H&S formation. Structure is tilted on the left and has formed over a long period (~10 months). Finally the structure seem to have completed though the price is still trying to bounce from the neckline. Today we have an evening star kind of formation which might push the price towards neckline in a breakdown attempt this week.

I can see similar formation across charts and when you see such formations in multiple charts, it typically suggests a top formation is occurring. It has been a slow process and might take some more time before these H&S start materializing so some amount of patience is needed. I guess we are close to making a near term top in Indian markets.

2024年10月3日

交易進行

Breakdown confirmed

2024年11月6日

交易結束：目標達成

Target as per the size of head acheived.