In my previous post, I have shown that NSE: Reliance Industries forms triangular patterns on daily chart.
Today Reliance opened gap up & completed its another triangular pattern. (Black dotted lines)
This Gap will be filled as Reliance never leaves a gap unfilled.
RSI gave a bullish divergence in mid-march 2020 which lifted Reliance by more than 55 %.
Currently, there are two possibilities:
1.) Reliance moves back to the previous price channel - Parallel channel. (Red Lines)
-> As RSI has given a breakout of 60 zone.
2.) Reliance may move to lower levels (R1 @ 1362) & fill the gap.
-> Low Delivery (23.26 %) [Source: NSE Website]
--> Option Chain
1300 - Support
1400- Resistance
Today Reliance opened gap up & completed its another triangular pattern. (Black dotted lines)
This Gap will be filled as Reliance never leaves a gap unfilled.
RSI gave a bullish divergence in mid-march 2020 which lifted Reliance by more than 55 %.
Currently, there are two possibilities:
1.) Reliance moves back to the previous price channel - Parallel channel. (Red Lines)
-> As RSI has given a breakout of 60 zone.
2.) Reliance may move to lower levels (R1 @ 1362) & fill the gap.
-> Low Delivery (23.26 %) [Source: NSE Website]
--> Option Chain
1300 - Support
1400- Resistance
Catatan
Today Reliance failed to enter in parallel channel & there was resistance near R2. (Blackline). Delivery 16.15 %
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.