AbhishekHSinghCMT

Reliance-Risky or Rewarding (Ongoing 5th Wave ) (Wave Analysis)

Short
NSE:RELIANCE   RELIANCE INDS
Last Fall /Wave Downside- 2022 to 1855 was done in fast & furious mode as suggested in the last idea mentioned below


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Last Idea- Last Leg Running upside in Triangle close to 2000- Get Ready for Fall!!!
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Trading Strategy
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• Channel can provide resistance below 2022
• Careful in 2000-2022 zone
• Sell strictly below 2022 for 1900 / 1850 & lower targets
• Buy strictly above 2022 (once crosses upside & holds above the level)

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Thanks & Have a wonderful week ahead.
Trade active: 20:53 Hrs / 28th Dec2020

Last Price- 2003

Dear Followers,

I Have mentioned key & critical level- 2022 to plan your trading. Today, it respected & had a short fall close to 2000 levels ( Day High @ 2018 )

Always, check the price movement. Crossing above 2022 - It will be a buy for higher targets which I have already suggested in the main update.

Thanks & Have wonderful time.
Trade active: 10:41 Hrs / 29th Dec2020

BankNifty Update

Last Price-31262

Careful at the Key level- 31300 - Any further buying can be expected only above 31300

Holding below 31300 - Bank Nifty can fall

Large Cap is falling from 2020 again

Few Other Stocks - Tata Steel (Last-628) Careful below 640's
Trade active: 09:38 Hrs / 5th Jan2021

Last Price - 1975

Reliance respected top end @ 2020/2022 as suggested in the idea - as a trader, need to manage our risk
Trade closed: target reached: 15:29 Hrs / 7th Jan2021

Reliance ----------------------------Recent Low @ 1905 ------------ Target achieved 2018 to 1900 (Approx) just missed by 5 points - almost 110+ points in the fall suggested below 2020.

Thanks
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw

Twitter Handle
https://twitter.com/TalksWave

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https://t.me/wavetalks

Comments

It means RIL can give falls breakout above 2000. Then the channel is valid till 2022 ?
+3 Reply
@Akshay77, Valid till 2022 suggested above & check above comments of @vibhorjain81
+1 Reply
hoping that wave 5 isn't over yet and we get to see more of it
+1 Reply
AbhishekHSinghCMT vibhorjain81
@vibhorjain81, Crossing above 2022 shall give early clue that 5th Wave was done at 1855 lows.
+1 Reply
vibhorjain81 AbhishekHSinghCMT
@AbhishekHSinghCMT, sure agree sir since it was start of 5th wave
+1 Reply
thanks sir
+1 Reply
1818.85 last near price buy it.
Reply
Fantastic call. Thanks a lot. Your analysis makes reading of the market much simpler. Again thanks.
Reply
No offence, I could be wrong completely. Not too sure, if it will fall. It is sideways from November, went and made a double bottom near its 200 DEMA and bounced. Currently seems in accumulation phase and in a range, for next move.
Reply
@bhargav18d, I said 2022 (key & critical level) once it crosses above -It should be a buy as mentioned in the update. Best part - Tradingwise - it respected 2 times. 1st Fall on 21st Dec2020 & 2nd Fall again today just below 2022- (Day High @ 2018 - 28th Dec2020)
Reply
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