Bearish to Sideways in Reliance

٢٢ سبتمبر ٢٠٢٣

RIL has broken the trend line support and has also closed outside of the parallel channel for two consecutive days. It is looking weak. Will consider trading via options by initiating a Bear Call spread and trail it. If there is some evidence of a fight back will add a Bull Put spread and convert it into an Iron Condor.

But the prima facie view is bearish.