@nalinijagan03, Post Covid after a good bull run, Stock showed strong resistance on the 2200 levels, and on Sep 10, 2020, the resistance was broken with a strong Volume. But bulls couldn't maintain the uptrend. Hence, even after testing the earlier resistance on the neckline as the support for almost 20 days, the support was broken and the stock hit the 1820 mark.
Since then, neckline was had been tested once but acted as a resistance (Low Volume). This time, the neckline was broken with the high volumes.
Reversal, can be done but would be mostly as a retracement for another run or a sideways trend after crossing 2380 mark.
Look for Support on the 2200 levels.
P.S: This is not a recommendation and is solely for educational purpose, I am personally not holding RIL shares as of today.
nalinijagan03
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@rajatangri, clear analysis thank u as m in to trading oly for few months m still learning