RELIANCE // Levels // 4 hour

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To analyze the levels for Reliance Industries on a 4-hour chart, you would typically look for key support and resistance levels, trend lines, and any significant price patterns. Here’s a general approach you can take:

Identify Support and Resistance Levels: Look for historical price points where the stock has reversed direction. These can be horizontal lines where the price has bounced off multiple times.

Trend Analysis: Determine the overall trend by looking at the highs and lows. If the price is making higher highs and higher lows, it’s in an uptrend, and vice versa for a downtrend.

Moving Averages: Use moving averages (like the 50-period or 200-period) to identify the trend direction and potential support/resistance levels.

Chart Patterns: Look for any recognizable patterns such as head and shoulders, triangles, or flags that could indicate future price movements.

Volume Analysis: Check the volume at key levels to confirm the strength of a move. High volume at a breakout level can indicate a strong move.

Indicators: Consider using technical indicators like RSI, MACD, or Bollinger Bands to gain additional insights into momentum and potential reversals