Reliance (
RELIANCE
has been trading in a closed range for many weeks now.
It took multiple support at 200 Moving Average. And formed a base near 1880-1920.
Volume in the cash segment is quite good too.
Now it looks ready to break out of the wedge formation anytime soon and reach the near-term target of 2300+ and then creating an all-time high in weeks to come.
The stop loss of the trade should be 1850 on closing basis.
RELIANCE
has been trading in a closed range for many weeks now. It took multiple support at 200 Moving Average. And formed a base near 1880-1920.
Volume in the cash segment is quite good too.
Now it looks ready to break out of the wedge formation anytime soon and reach the near-term target of 2300+ and then creating an all-time high in weeks to come.
The stop loss of the trade should be 1850 on closing basis.
Trade active:
Bought on Jan 14, will add on Jan 15.