RELIANCE--Head and Shoulders pattern(Right-Shoulder) Forms??
Observations:
-------->>the stock is trending upwards.
-------->> We have observed a left shoulder formed at 2300 level. Now if price falls back to 2300 level and if the same is acts a support we will
observe a Head and Shoulders pattern in Reliance.
--------->> Previously a strong fall is observed from the zone 2425-2455.If the same zone is acts as resistance we will observe a fall in reliance up to
2300 Zone.
------>> we have a demand zone @2360-2380 level which can act as a pullback to the same zone(2425-2455). and price may fall back to 2300 levels
very quickly from this zone.
Keep an eye on these levels.
-------->>the stock is trending upwards.
-------->> We have observed a left shoulder formed at 2300 level. Now if price falls back to 2300 level and if the same is acts a support we will
observe a Head and Shoulders pattern in Reliance.
--------->> Previously a strong fall is observed from the zone 2425-2455.If the same zone is acts as resistance we will observe a fall in reliance up to
2300 Zone.
------>> we have a demand zone @2360-2380 level which can act as a pullback to the same zone(2425-2455). and price may fall back to 2300 levels
very quickly from this zone.
Keep an eye on these levels.
**If these ideas are Helpful !
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Please Like, Follow and Comment
Also share your thoughts in the comments section.
Thanks for your Support **
--Educational Purpose Only--
--Not SEBI Registered--
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