Reliance Ready for -35% Down Move from here..?

Reliance/INR Chart Analysis :-

Based on the chart analysis, Reliance is currently trading at ₹2322 and has broken the support level. This could lead to a big down move in the coming months, but there may be good buying opportunities for the long term around ₹1500-₹1600.

The 0.50 Fib Retracement level is at ₹1584, which could lead to a strong bounce from that level. However, this analysis will only hold true if Reliance breaks the ₹2607 level.

My key levels for Reliance:-
support at ₹2218/₹1897/₹1584 and
Resistance at ₹2680

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