16/08/2021
Stock Specific Analysis :
Stock : Reliance
Date : 15-Aug-2021
Analysis : Stock is on verge of breakout at 38.20% Retracement levels. Stock tried two times to break the levels and it took resistance right at the Levels of Fibo levels and fall back. Now Yet again stock is coming closer to the Resistance Levels and if stock is able to break this levels,then we can expect the Stock to travel towards the Levels mentioend in the above chart.
Option Chain Analysis : We could see a huge call Unwinding happening across all strike prices on Friday. If this scenario continues, then we can expect the Stock to break the resistance levels and Travel towards our said upside levels.
If the breakout happens, then this will lift the Index and we can expect the Nifty to Travel towards the next Fibo levels as this stock has the weightage close to 10% in Index.