Stock | Reliance | 4H | Bearish Shark and Crab formation
Pair shows formation shark and crab patterns.
Pair shows the formation of a double top.
Price is getting pulled away hence BB volatility Divergence can be seen.
RSi shows divergence and also getting resistance at 60, which shows RSI bearish range shift.
Looking for 50% to 61.8% retracement between 2200 to 2250 area.
It could be a good buying opportunity for the long term around Rs.2250 mark or retest of the trend line shown.
Pair shows the formation of a double top.
Price is getting pulled away hence BB volatility Divergence can be seen.
RSi shows divergence and also getting resistance at 60, which shows RSI bearish range shift.
Looking for 50% to 61.8% retracement between 2200 to 2250 area.
It could be a good buying opportunity for the long term around Rs.2250 mark or retest of the trend line shown.