RELIANCE
Reliance - 1D - Inverse HNS Pattern - Looks DangerousThis is a perfect HNS pattern forming in 1 Day Time-frame in the Reliance chart. Volumes are also reducing. Let's hope the Bulls come into action.
Any daily closing below 1970 will confirm the breakdown.
Possible Targets - 1930, 1900.
Daily closing below 1900 might create panic selling!
Reliance good option to trade intraday Purple trendline is acting as a very strong resistance
from here, we can draw out two possible situations
1) Reliance opening below 2011 and going straight down from there
2) Reliance opening somewhere inbetween 2060-2011, and going up and down
and forming a descending triangle only to go down in the end