Beyond Technical analysis - II
Reliance Industries is announcing good news every day. This is making a bullish sentiment. (Short term)
Volume:
Heavy volume compared to the average volume of Reliance. (Shown by using Bollinger bands in previous charts)
The number of trades has significantly low & traded quantity is high.*
Delivery
After 21 April 2020, there is a significant drop in deliverable quantity.*
Turnover
25 April 2020 had the highest turnover (up to 7 May 2020) & is decreasing day by day.*
Option Chain
1600 & 1700 may act as good resistance where 1500 might act as support.
Price action
Self Explantionary on chart
Note: * marked -- Based on my own research & analysis
-> Just wait for some time to get some short signals. This move looks speculative .
Volume:
Heavy volume compared to the average volume of Reliance. (Shown by using Bollinger bands in previous charts)
The number of trades has significantly low & traded quantity is high.*
Delivery
After 21 April 2020, there is a significant drop in deliverable quantity.*
Turnover
25 April 2020 had the highest turnover (up to 7 May 2020) & is decreasing day by day.*
Option Chain
1600 & 1700 may act as good resistance where 1500 might act as support.
Price action
Self Explantionary on chart
Note: * marked -- Based on my own research & analysis
-> Just wait for some time to get some short signals. This move looks speculative .
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