Reliance formed a break out gap on 27/04/2018 after moving from the trading range with gap up.
Open of 27/04/2018 was Rs. 989.80
Close of the 26/04/2018 was Rs.975.40.
Volume on the break out gap was high. As the gap was a break out gap with high volume it was not expected to be filled soon ,but very next trading day on 30/04/2018, the gap got filled.
The candle of the 27/04/2018 was a sort of inverted hammer, though had a small lower tail, but a big upper tail indicating the strong intra day selling pressure on 27/04/2018 itself, giving us a possible hint that break out was not strong one.
