srikartiram

RELIANCE | Small swing opportunity in lower time frame - 9%

Long
NSE:RELIANCE   RELIANCE INDS
RELIANCE | Small swing opportunity in lower time frame

CMP : 2028
SL : 1960
Target : 2216

1:3 risk reward setup.

Pros :

Risk reward is good
W Pattern,
Taking trendline support in daily time frame.
Positive RSI divergence

Cons : It also deceiving my eyes with Head & Shoulder pattern

Comments

RELIANCE ONLY BUY ON DIPS.. SEE THE CHART YOU DISPLAYED AS WHOLE.. HEAD AND SHOULDERS, RELIANCE MAY ANNOUNCE BONUS & DIVIDEND. SO HOLD BUY ON DIPS TO ENJOY BONUS.
+4 Reply
I think 1996 is great support and if it breaks that than neckline would be broken in Head & Shoulder pattern and there can be sharp fall but if it holds that support than we can see up move.
+3 Reply