RELIANCE
Reliance - Elliott wave analysis - Sell set upReliance - It has completed impulse cycle up from major low in 4 hr time frame and correcting down from last high in 30 min time frame as ABC zigzag down. 2nd wave of C wave is in progress, which may bounce up to 2250-80, which is good sell for target up to 2100 or even lower, with stop loss above 2310.
Give thumbs up if you really like the trade idea.
RELIANCE update 1 ON 26.09.2020Hi Friends,
I got the request from one of my follower to give the update on Reliance, So here it is.
RELIANCE gave Huge run, So far it is good. But now it is the decision time.
you might have these questions in your mind.
Shall I enter at this price?
Shall I book profit?
Shall I accumulate the stock?
Resistance area for Reliance is 2244 - 2266 (it is 2-3% away from cmp), once it brake the resistance it will give huge brakeout. So for any fresh buying waiting to cross the resistance area is advisable.
For short sellers (very few, but any) keep stoploss of 2267. (REMEMBER PROFESSIONALS ENTER THE TRADE WITH STOPLOSS IN MIND, but armatures like me :P , enter the trade with profit in mind. )
For profit booking it is your choice........
Your Humble trader,
KIRAN
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RELIANCE ....... shall we reliance on RELIANCE?Hi friends,
Reliance give HUGe Returns with all the news HEADLINES.
Remember they own lot of NEWS media, They know how to HYPE the news.
ALL THIS UPMOVE is based on SUCCESS of JIO.
But look at the Airtel, it is already started the Down trend.
IT IS MATTER OF TIME.
FINGERS CROSSED.
Your humble trader
Kiran
Reliance Industries - Deep CrabReliance Industries formed Deep Crab Pattern on Daily chart.
Those whose missed the bus, do not hurry to buy the stock at the current price , considering the resistance suggested by the pattern.
Let the stock settle for some time , will update buy levels , when gets some hints from price action.