Reliance is down so far since May-June Phase (see the chart). And also if you notice closely there is no clear trend as price is moving from range to another range with small swings in between,This indicates that decline in price movement is weak and buyers are stepping in at every time stock makes a swing low
Nifty september futures turned to positional buy mode and currently the support zone come near 5264 zone. Reverse your position to positional shortly if the support zone breaks on the hourly charts. On Contrast Bank Nifty still on the positional sell mode and trading very close to the resistance zone 9039.
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.
Now Access Axis Bank, ICICI Bank, SBI Bank, Reliance, DLF Realtime Metatrader charts in 5min and 15min timeframe with super trend indicator. Also the super trend indicator is applied for Nifty Futures.
Monthly Chart Show level of 660 will be important on closing base.if close below 660 than stock can come down to 600-610, 560 and 460. Intraday Basis -Stock Can Take supports around 665-60,646 ,640,620
Nifty Hourly Charts with buy signal during the first hourly of last friday and currently with Trailing stop loss near 6019. Reliance(Spot) Hourly Charts with buy signal with Trailing stop loss near Rs1004.4
If you had looked either into the Daily or Weekly charts of Reliance there is too much noise in the charts. The another way to filter out the noise from the system is by choosing the higher timeframe to know about the exact information about the trend.