RELIANCE falling wedge pattern
What we can see in the chart is a falling wedge pattern. Currently the price is inside the pattern. We are expecting the price to get rejected at the upper boundary of the wedge and come back down to retest the support. After that we are expecting the pump and the break out to the upside.
MACD has a bullish crossover which is positive sign for bulls.
The target and the stop loss are shown in the chart. Enter the trade only when/if the price breaks out with the volume surge.
MACD has a bullish crossover which is positive sign for bulls.
The target and the stop loss are shown in the chart. Enter the trade only when/if the price breaks out with the volume surge.
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