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 .