Mota bhai-Inverse head and shoulder

Reliance could move towards 2800-3000 levels upon break of inverse head and shoulder pattern on daily time frame. This could correct for a few days to about 2550 levels but it should not close below that level.Nifty is at all time high and this has highest weight on the index so can correct for few days. If trades below 2550 on DCB then the trade should be closed.

Keep a close watch on the price action. Few stocks to lead next rally could be Reliance, HDFC Bank, Kotak Bank and some of the IT names.