Reliance SHOW is over NOW time to get out of MOVIE THEATERHi Friends,
Reliance had a very good bull run, but this mov(i)e seems to be over.
So, my view is, if Reliance can not able to close above 2170 level on daily closing basis, then its bull run is finished.
If you want to go short keep stoploss of 2170 level.
Your humble trader,
KIRAN
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Disclaimer: THESE IDEAS ARE EDUCATIONAL PURPOSE ONLY, I AM NOT REGISTERED FINANCIAL ADVISOR. DO YOUR OWN DUE DILIGENCE.
Relianceshort
Reliance - Key Reversal Candle at previous resistanceReliance Industries formed key reversal candle on its weekly chart confirming previous resistance @1600 levels.
Negative Divergence at 60 levels is clearly visible on the chart.
So coming any move below 1400 levels can take stock to 1200 to 1150 levels.