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.
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