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Reliance Long opportunity

Oleh Traders_Town
RELIANCE

Stock -> Reliance

TimeFrame -> Weekly

Hello all!

Reliance has been traveling in a channel. It's now back at its lower channel trendline which makes for a good opportunity to go long.

There are multiple factors that further strengthen my conviction:

1)Presence of a support zone
2)Support from 50 week EMA

The Reward to Risk Ratio also seems favorable

*NOT A CALL*

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