RJUN
Short

Can it Break through 5 Point Resistances?

NSE:RELCAPITAL   RELIANCE CAPITAL
NSE:RELCAPITAL 1.55% Has been trending Downwards and had took the pull back for such an impulse move forming a bearish Flag ...now looking at those level where it pulled back their MUST need HUGE..HUGE Buying Power to Cross These 5 Resistances:
1. 20 EMA
2. 50 EMA
3. Trendlines
4. 38.2 Fib level
5. Formal Resistance

IF it Find Resistance Near those levels We can Short for Target at 575, 565, 552. But, If it Crosses with strong Impulse Better Stay away :)
Comment: Note: If it crosses above the 50 period EMA, their could be a breakout above due to the short squeeze, so as long as it holds below 50 EMA we're safe.
Trade active
Comment: Trade is still Active, one can look to short at these levels or wait for more confirmation until tomorrow!
Comment: Fall Resumed :)
how to target price
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RJUN PSRENATH
@PSRENATH, Targets are based on support levels and whole numbers, so look for 580, 570.. i suggest trailing the Stop loss.
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RJUN RJUN
@RJUN, 550 will act as a strong Support.
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How are the indicators looking?
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RJUN HarshShivlani
@HarshShivlani, Price is Below the Ichimoku Cloud and That Cloud too is acting as a resistance..forgot to add that 6th resistance, Lol!
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