“Reliance – Trendline Support Test 🔎”

📊 Technical Breakdown 1️⃣ Structure: Stock rallied strongly from ₹1,120 → ₹1,560 between April–July. Since then, it has been correcting but is respecting its rising trendline (green line). Current price: ₹1,372, bouncing from the support trendline. 2️⃣ Bullish Scenario: As long as the stock holds above ₹1,350 trendline, momentum can resume towards ₹1,450 → ₹1,500. Sustained close above ₹1,500 could re-target ₹1,560–₹1,600. 3️⃣ Bearish Scenario: A breakdown below the trendline & ₹1,340 can drag the stock down towards ₹1,280–₹1,200. 4️⃣ Volume Action: Current bounce came with average volumes. Strong confirmation needed on follow-up sessions. 🚦 Learning Angle for Post Trendlines act as dynamic support. When price tests them multiple times, they become crucial reference points. Break of such trendlines often leads to big directional moves.