RELIANCE CAPITAL HAS FORMED A ROUNDING BOTTOM IN AN UPTREND

A rounding shape pattern in an uptrend resembles that the price is going to continue the trend as it has formed a base to move further.

The stock price is already over priced and trading in an overbought zone. But still trend followers can take the position as trend is becoming more strong.

Also ,on weekly charts the stock is trading in its fifth wave which can move up to 680++ levels.

On the downside 580 is going out to be crucial as its a neckline breakout of rounding bottom shaped.

Here is the snap shot:Screenshot (19)