Reliance Weekly Time Frame Analysis
Current Trend:
1) moving in uptrend parallel channel and at bottom of parallel channel
2) MACD --in negative territory with bearish momentum
3) at 0.786 level of support(2311.00-2856.15)[ No candle confirmation yet)
Target to be watch:
Support :
once this level is broken(2369) we can except Reliance turned bearish (Parallel channel breakout and wave A
level is broken)
Resistance:
First level of Resistance @ 2720 level .
1) moving in uptrend parallel channel and at bottom of parallel channel
2) MACD --in negative territory with bearish momentum
3) at 0.786 level of support(2311.00-2856.15)[ No candle confirmation yet)
Target to be watch:
Support :
once this level is broken(2369) we can except Reliance turned bearish (Parallel channel breakout and wave A
level is broken)
Resistance:
First level of Resistance @ 2720 level .
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