Reliance – Technical View
Reliance has shown an initial structure breakout, indicating emerging strength.
However, for safe traders, it is advisable to wait for a clear confirmation breakout above the confluence zone.
Key Resistance Zone: 1435 – 1445
This range is crucial as it aligns with both:
• Channel resistance
• Fibonacci retracement level
Breakout Scenario:
A decisive move above this zone can open the path towards 1480 and 1540 levels.
Wait for confirmation, trade with discipline, and follow the structure.
Reliance has shown an initial structure breakout, indicating emerging strength.
However, for safe traders, it is advisable to wait for a clear confirmation breakout above the confluence zone.
Key Resistance Zone: 1435 – 1445
This range is crucial as it aligns with both:
• Channel resistance
• Fibonacci retracement level
Breakout Scenario:
A decisive move above this zone can open the path towards 1480 and 1540 levels.
Wait for confirmation, trade with discipline, and follow the structure.
@RahulSarawagi
Connect us at optionlab.co.in/
Connect us at optionlab.co.in/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
@RahulSarawagi
Connect us at optionlab.co.in/
Connect us at optionlab.co.in/
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.