RELIANCE SQUEEEZE - BREAKOUT SETUP
Updated
5th October saw huge profit booking in reliance against very good news of investments in Reliance Retail over the weekend.
Investors are consolidating positions in Reliance.
Overall, Heavy-weight like Reliance was in consolidation impervious to the trump's sign of relief.
DOW^ has seen huge reversal from last market close to today open with Trump's health information.
Investors are consolidating positions in Reliance.
Overall, Heavy-weight like Reliance was in consolidation impervious to the trump's sign of relief.
DOW^ has seen huge reversal from last market close to today open with Trump's health information.
Comment
Broader market was +ve.We saw NIFTY break 11600 after multiple rejections during the trading session.
Relaince has been performing sublimal.
Trade active
Beautiful breakout above our trendline.Respect the charts.
Trade closed manually
Breakout over resistance. Target achieved in the first hour of 7th October Trading Session.Await further charts.
Investors can hold for LONG.
Comment
Huge selloff seen towards end of day. Hovering around the resistance.
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