Reliance has recently taken support at the lower edge of its falling wedge formation and is now trading close to the upper boundary of this pattern. Over the last 5 sessions, the price action has been compressed within an inside candle formation, signaling contraction in volatility and a possible breakout setup.
Support Zone: ₹1350 (key wedge support and near-term demand zone)
Trigger Level: A sustained move above ₹1385 will confirm strength and indicate breakout potential.
Upside Targets: On confirmation, the stock can head towards ₹1430 initially, followed by ₹1470 in the short term.
Risk Level: A close below ₹1350 would negate the bullish setup and can lead to further weakness.
Technical View:
The combination of a wedge support bounce + multiple inside candles suggests a volatility squeeze. Break above 1385 with volume could accelerate momentum
Support Zone: ₹1350 (key wedge support and near-term demand zone)
Trigger Level: A sustained move above ₹1385 will confirm strength and indicate breakout potential.
Upside Targets: On confirmation, the stock can head towards ₹1430 initially, followed by ₹1470 in the short term.
Risk Level: A close below ₹1350 would negate the bullish setup and can lead to further weakness.
Technical View:
The combination of a wedge support bounce + multiple inside candles suggests a volatility squeeze. Break above 1385 with volume could accelerate momentum
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.