RELIANCE shaping up Intrestingly. Looks a classic Bull:trap. Earlier it gave a channel breakdown below 2300 we had mentioned this in our earlier post in mid February. After that it went towards 2251 and gave bounce. We have plenty of reasons to believe that this rally won’t sustain. Because no stock can escape the power of (HARMONIC CHANNEL) breakdown it doesn’t matter whether it’s RELIANCE. Going forward based on our studies. We expect RELIANCE to break 2300 again and complete the channel Target of 2150 on lower side in days to come. We won’t hesitate to take a Futures short here with a hedge against short-term Impulse moves.
RELIANCE Updated View
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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