RELIANCE- MOTA BHAI ALWAYS MAKES MONEY FOR YOU!!!RELIANCE INDUSTRIES LTDNSE:RELIANCEPushpmegh🔍 CHART ANALYSIS (Weekly Timeframe) 🟩 Trend & Price Structure: Long-term uptrend is intact (since 2020), though it underwent a correction starting in 2022. Price has respected a trendline support (dotted black), but recently broke below it and is now attempting a reclaim. There’s a clear breakout from a falling wedge (pink trendline), which is a bullish reversal pattern. 📊 Key Levels: LevelSignificance ₹1111Historical support (marked as 3-year SL) ₹1300New proposed stoploss post-breakout ₹1376Previous resistance zone (now near breakout zone) ₹1608Recent high (multi-month resistance) ₹2101Fibonacci 1.618 extension target ₹20601.618 fib extension (confirmed by label) 📈 Fibonacci Analysis: Fibonacci extension from previous impulse wave projects 1.618 at ~₹2060–₹2101. If ₹1608 is crossed with volume, next rally toward ₹2060–2100 looks probable. 🔁 RSI (Momentum): RSI (14) = 62.02 – momentum is bullish but not overbought. No bearish divergence visible; RSI supports bullish continuation. 🔔 Volume Observation: Last few bullish candles show healthy volume participation, especially in breakout areas. Indicates smart money interest returning. ✅ SUMMARY OF INTERPRETATION: ✅ Breakout from falling wedge – positive signal. ✅ Reclaiming broken long-term trendline. ✅ New stoploss of ₹1300 is reasonable for medium-term. ✅ ₹1111 stoploss is ideal for long-term investor (3+ years), marking major structural low. 🚀 Potential target = ₹2100+ based on Fibonacci projection.