Reliance: At a key Make-or-Break level
some observations on Reliance:
1. Reliance got a close (2,408) below all key Key moving averages
65DMA
100DMA
200DMA
233DMA
2. Moreover, a prominent Harmonic pattern's "B" stands at 2,426. If prices start traveling below this, we have deeper short targets till 1900.
3. Weekly Swing high being 2,626
4. Reliance has given 4th consecutive close in Red. (Can maintain this momentum for 5th to 7th Week).
# Now until we get a healthy close above 2,626 on a weekly basis, Reliance became the "Sale on rise" till 2,626 is achieved on a weekly closing bases
1. Reliance got a close (2,408) below all key Key moving averages
65DMA
100DMA
200DMA
233DMA
2. Moreover, a prominent Harmonic pattern's "B" stands at 2,426. If prices start traveling below this, we have deeper short targets till 1900.
3. Weekly Swing high being 2,626
4. Reliance has given 4th consecutive close in Red. (Can maintain this momentum for 5th to 7th Week).
# Now until we get a healthy close above 2,626 on a weekly basis, Reliance became the "Sale on rise" till 2,626 is achieved on a weekly closing bases
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