Reliance Industries Ltd. is an interesting chart with following
1. RSI on D/W/M above 60
2. ABCD Pattern under formation on weekly chart
3. Price crossed above 20 Week SMA during the week
Can be a Good risk reward with buy on dips and dips as major support exist at 2870-2880 zone being daily and weekly 20 SMA support
Lets see how it evolves
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.
1. RSI on D/W/M above 60
2. ABCD Pattern under formation on weekly chart
3. Price crossed above 20 Week SMA during the week
Can be a Good risk reward with buy on dips and dips as major support exist at 2870-2880 zone being daily and weekly 20 SMA support
Lets see how it evolves
Disclaimer: NOT A BUY / SELL RECOMMENDATION I am not an expert I just share interesting charts here for educational purpose and not to be taken as buy/sell recommendation. Please seek expert opinion before investing and trading as trading/ investing in market is subject to market risks. I do not hold any position in the stock as on date but I may look to buy on dips with my own Risk Reward matrix.