after a Breakout, reliance has give a good move, it was moving in the channel
after a breakdown from the channel, stock has corrected and taken support near 50MA also at support. Now Reliance is making hammer type candle long tail candle Nr 50MA, which is sign of buyer having interest in it.
it is also at 38.2% retracement from the TOP
More than 1 confirmations are showing the trend reversal