Reliance Short Strategy

1. Fundamental Analysis
Financial trend Positive
Valuation expensive

2. Technical
In downtrend till 1275.70 level is not breached
Started forming Dojis around the same level.
Short if swing high is made below this level
1275.70 is also a resistance zone. Is it breaks, then go long on High of candle breaking the resistance

3. OI
Lower OI - 1140
Maxpain - 1240
Upper OI - 1320