An opportunity opening up for Reliance Investors

27 Des 2021

Reliance script has been observed to form a head and shoulder pattern on the chart between the period Sept - Dec 2021. After reaching high of 2748.85, prices have been falling since then. As per current analysis, it can be speculated that the prices will continue falling till it forms a support between the price range of 2099 - 2200. If the market's downtrend, still continues the prices could even stoop down till 1914. After the script has formed a new support range, trend reversal will be observed where the share prices will reach somewhere between 2333 - 2430. The next best move for the investors would be to keep an eye on the script until the a breakout is observed along the downtrend line. Holding that long position till the analysed target it achieved would be highly advisable and the target could be achieved by March - April 2022. Happy Investing!