Hello and welcome to this analysis on RELIANCE INDUSTRIES
On April 29, 2022 it completed the formation of a Bearish Harmonic Alt Shark Pattern indicating a reversal in the daily time frame.
Currently it has completed 50% of that retracement and formed a Bullish Harmonic Alt Shark in the Hourly time frame suggesting a probable bounce from here.
A pullback of this Bullish Harmonic Pattern could probably take it to 2600-2650. Pattern will remain valid till price is above 2435.
Harmonic Patterns are based on Patterns which come inline with specific ratios for reversal trade set ups.
On April 29, 2022 it completed the formation of a Bearish Harmonic Alt Shark Pattern indicating a reversal in the daily time frame.
Currently it has completed 50% of that retracement and formed a Bullish Harmonic Alt Shark in the Hourly time frame suggesting a probable bounce from here.
A pullback of this Bullish Harmonic Pattern could probably take it to 2600-2650. Pattern will remain valid till price is above 2435.
Harmonic Patterns are based on Patterns which come inline with specific ratios for reversal trade set ups.
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Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.