As per the chart, you can see in both hourly & daily chart a clear triangle breakout is seen along with good volume. If you see the hourly chart bullish flag & pole patterns can also be seen. Apart from that, the bottom support has been tested for quite a bit of time. The RSI is also indicating a possible reversal, as the momentum gets higher & higher. As per my...
Reliance is consolidating for quite some days, also a triangle pattern slightly ascending can be seen.
The RSI indicator is also suggesting a possible reversal where the price is moving down but the momentum is increasing.
A breakout in the triangle with some good volume may lead to bullish strength, with strong support by 200 EMA, which may move the price to...
Checking through the 1H chart, it is clear that the price is increasing but the momentum in RSI is decreasing, which indicates that the momentum of NSE:NIFTY is decreasing to anymore upside. It may go up a little, but my call would be to find short positions at this time.
