Technical Analysis : RELIANCE getting ready for short... :)
Reliance Chart in following leaps,
Slightly in Downtrend, (from OCT2020)
Head & Shoulders TOP, (Created high price- the HEAD and now the reversal action)
A triangle Flag pattern, (In Daily | hourly time frames confirming traders sentiment for selling)
RSI is not oversold, in higher time frames, and in lower's reaching to Oversold.
Confirming, to reach oversold level, at H&S target. Or bounce back to new highs at pre-support levels.
Bonus:
Current price's Hype & high is also due to on past H&S at bottom Between Jan2020 and June 2020.
Price reached past target now slightly in Downtrend.
Traders may square off and reopen at low prices, until any positive sentiment news appears "_"
Consider my work as beginner's.
Hoping, analyzed, well sortoff.
-VK
Slightly in Downtrend, (from OCT2020)
Head & Shoulders TOP, (Created high price- the HEAD and now the reversal action)
A triangle Flag pattern, (In Daily | hourly time frames confirming traders sentiment for selling)
RSI is not oversold, in higher time frames, and in lower's reaching to Oversold.
Confirming, to reach oversold level, at H&S target. Or bounce back to new highs at pre-support levels.
Bonus:
Current price's Hype & high is also due to on past H&S at bottom Between Jan2020 and June 2020.
Price reached past target now slightly in Downtrend.
Traders may square off and reopen at low prices, until any positive sentiment news appears "_"
Consider my work as beginner's.
Hoping, analyzed, well sortoff.
-VK