Multi-Week Confluence Analysis: Labeled Study of RELIANCE IndustReliance Industries LimitedNSE:RELIANCEnitesh607Currently, the weekly chart of Reliance Industries presents a compelling technical case study involving structural price support and momentum alignment: 1. Structural Trendline Support Looking at the weekly time frame, price action has corrected from its higher levels back down toward a long-term ascending trendline. This trendline has historically acted as a major demand zone, where buyers have repeatedly stepped in over previous quarters. Testing this floor indicates that the asset is sitting at a key structural value zone. 2. Weekly RSI Momentum Alignment Price action alone can be deceptive, which is why overlaying the Relative Strength Index (RSI) on a higher timeframe adds weight. The weekly RSI bouncing from it previous support zones. it may retest its previous resistance that 1610. Also this is the case of ascending triangle pattern on weekly basis, we can analyse the target by drawing the distance of resistance at 1610 to ascending red trendline, such distance gap will be the target price above such resistance of 1610, that will be around 2100. Disclosure: Educational case study mapping structural chart patterns. I am a student of technical analysis and a professional Company Secretary, not a SEBI Registered Research Analyst. This is not financial advice. I may or may not hold a personal financial interest in Reliance Industries shares. No buy or sell recommendation, this is only for learning. #RIL #Ascendingtriangle