RIL Prediction (2024 Dec 24) - Retracement
Not a BHS recommendation. Just Sharing my idea.
RIL.N0000 - The overall weekly trend is uptrend.
Timeframe - Daily
Higher High is formed @13.80 and Retracement is already happening
Possible reversal between 12.5-12.4 (From the highlighted red box)
Confirmations for the reversal:
Fundamentals:
NAV is according to the latest financial statement (2024 Sept quarter) is 25.52. So PBV is below 1.
RIL has 51% ownership of
UML.N0000
Expecting to reach the Price to 15, which is the next daily resistance. The uptrend resistance might also intercept this resistance level at 15.
RIL.N0000 - The overall weekly trend is uptrend.Timeframe - Daily
Higher High is formed @13.80 and Retracement is already happening
Possible reversal between 12.5-12.4 (From the highlighted red box)
Confirmations for the reversal:
- Close to Fibonacci golden pocket
- Hidden bullish divergence is formed
Fundamentals:
NAV is according to the latest financial statement (2024 Sept quarter) is 25.52. So PBV is below 1.
RIL has 51% ownership of
UML.N0000 Expecting to reach the Price to 15, which is the next daily resistance. The uptrend resistance might also intercept this resistance level at 15.
Trade active
Price has reached 15 as predicted
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