RELIANCE: Consolidating for a long time.

Jul 22, 2021

RELIANCE closing above EMA 21 after a small breakout from a descending triangle of a downfall.

The stock has seen a lot of consolidation between the 2350-1850 range.
RSI suggests a good demand and supply zone.
Nearby resistances are at 2174 and 2256.

One can slowly add and start taking positions to go long.
Add more on breakouts.
Long view: 9-12 months.
Target: 2700
Stop loss at the support range marked.

Disclaimer: This is NOT an investment advice. This chart is meant for learning purposes only. Invest your capital at your own risk.

Jul 28, 2021

Trade closed: stop reached

Stop Loss hit, exit if you're a trader.
Reliance will give buying opportunity again in a few days after the correction.