RELIANCE View

RELIANCE is at a point where it have to decide it’s near term Trajectory.
This is the most critical stock for INDEX TRADERS. A breakdown in RELIANCE would signal a break down in (NIFTY) in Coming days.
For now RELIANCE is very close to a break down but yet to conformed that.
We would get initial conformation for a breakdown below 2525 on cash.
Once (RELIANCE) sustains below 2525 we can see levels of 2463 and 2403 positionally.
2525 is nothing but a (SQUARING PATTERN) support.
Once this breaks we can mark 2642 as a secondary top after top of 2856 which was made on 29th,APRIL 2022: there are reasons for doing that, because there were lower highs under 2856 earlier.
It’s a complex structure let’s see how this unfolds.