RELIANCE have its AGM Tomorrow. Before that price has been consolidating in a range. Technically setup is Bullish Geometrically and Harmonically. Series of supports lies in the zone of 2157 to 2197 on cash. It went through a decent consolidation in first quarter of this year. Recently it squared it Price at 2185 as long as price keeps trading above it it shall test its next squaring point at 2375 on higher side. The Harmonic structure also is on track of uptrend for now. Indicating the retest of 2020 highs. In case things doesn’t go well after or during the event. Then most critical price point would be 2140. If it breaks then in short term we could see levels of 2080 and 2020 on cash. Consider 2140 as a Line of Control for strength and weekness. Just to add a point from above on Price squaring Front particularly Reliance does its squaring at 270° in a ○. Need to keep positions light before tomorrows event. But setup as of now suggests a breakout in coming days.
RELIANCE View before tomorrows AGM
Published by SAAHIL BELIM
MY NAME is SAAHIL and I have been actively trading in EQUITY MARKETS from 2014. I have been using Gann theory in my TRADING JOURNEY since 2016. my approach to Gann THEORY is totally different than what you may have seen or heard in various YOUTUBE VIDEOS. I have developed multiple MATHEMATICAL MODELS which are based on METHODS described by sir gann in his courses. I never had used any kind of CHARTS to identify the TREND. hens I never share CHARTS to illustrate my view. I like to keep things SHORT and to the POINt! View all posts by SAAHIL BELIM
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