RIL Prediction (2024 Dec 24) - RetracementNot a BHS recommendation. Just Sharing my idea.
CSELK:RIL.N0000 - The overall weekly trend is uptrend.
Timeframe - Daily
Higher High is formed @13.80 and Retracement is already happening
Possible reversal between 12.5-12.4 (From the highlighted red box)
Confirmations for the reversal:
Close to Fibonacci golden pocket
Hidden bullish divergence is formed
Fundamentals:
NAV is according to the latest financial statement (2024 Sept quarter) is 25.52. So PBV is below 1.
RIL has 51% ownership of CSELK:UML.N0000
Expecting to reach the Price to 15, which is the next daily resistance. The uptrend resistance might also intercept this resistance level at 15.