Reliance Industries, are we in bear cycle?
It is observed from the chart that we are heading into a bear cycle for Reliance Industries. Coincidentally, the Fibonacci retracement level of 0.618 aligns with the encircled area, indicating a potential support zone. Furthermore, the Gann support also appears to converge in this area, suggesting a strong support level. This convergence is highlighted by the cycle nearing its end around the encircled area, which may point to a possible reversal or a halt in the current downward trend.
Disclaimer: This analysis is provided for informational purposes only and should not be construed as investment advice. Always consult with a qualified financial advisor before making any investment decisions.
Disclaimer: This analysis is provided for informational purposes only and should not be construed as investment advice. Always consult with a qualified financial advisor before making any investment decisions.
Note
what a sudden selling....
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