#Reliance stock is precariously poised at make or break level
- Price is at bottom of Consolidation Box
- Price near 20 DEMA ( green line) will it take support and bounce back as it has exhibited in the past ( green arrows)
- Recently it got rejected from trendline ( marked red arrow)
- If stock bounces from here it will test the trendline(s)
- ADX Signal Strength Strong at 30
- RSI though above 50 is in downtrend
- On hourly Chart Stock is showing weakness
Reliance Will it Won't it breakdown
If Reliance Breaks Down here we can see 1950 levels
If Reliance bounces back 2130 / 2200 we may see resistance above which is blue sky zone
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