dharmen Kalal Dharmesh is a Trader ,Investor,Tehcnical Analyst and Stock Market Consultant Having Experience of over 7 Years I know Exciting and innovative things happen in the Stock markets each day. These events in their wake bring new opportunities and these are yours if you are well informed. Now you have the technical and financial expertise of NetProfitIndia at hand.

Reliance Industries – Inverse Head and Shoulder Pattern

24 sec read

Reliance Industries Stock has formed an Inverse Head and Shoulder Pattern at the bottom with good volumes ,Confirmation with inverse HNS on 14 period RSI also ,which is a key reversal pattern specially when its found.

Reliance Ind

 
Stock Views And Strategy -Buy around CMP 865-862 And Down Side of 853-848. StopLoss- 834 Closing Base,If Stock Give Close Below 834 then its failure of this Pattern,Exit long If Close Below 834

Price Targets – 875-876 and 920 ,in Midway Stock Can Face Resistance Around 888-890 .Short Term Traders Are Advised To Book Partial Profit At Resistance Zone.

Long Term Trader-Stock Is Good Fundamentally Also One Can Go Long With Expected Price Target Of 920 In Next 2 Months

dharmen Kalal Dharmesh is a Trader ,Investor,Tehcnical Analyst and Stock Market Consultant Having Experience of over 7 Years I know Exciting and innovative things happen in the Stock markets each day. These events in their wake bring new opportunities and these are yours if you are well informed. Now you have the technical and financial expertise of NetProfitIndia at hand.

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3 Replies to “Reliance Industries – Inverse Head and Shoulder Pattern”

  1. post risless some strategies or low risk strategies regarding market directionless strategies as u posted once before in ur site….!!!!

  2. There is no head and shoulder pattern on weekly chart. Also no break-out with large volumes.
    Guys, Reliance is in sideways trend. This should be a no brainer. Search for some other script.

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