praveen.bhatiya

PF and Trendline Short Reliance !

Short
praveen.bhatiya Updated   
NSE:RELIANCE   RELIANCE INDS
Andrew's Pitchfork (mod schiff) and trend line having the same slope capturing the price movement beautifully. Big red candle on 04. 01 .17 and price movement thereafter shows weakness so one can short the stock here with stop loss just above the high made recently. It offers good risk to reward ratio for a target of Median line touch around 1020 which is also a fib .618 level.
Comment:
Doing Well continuing with trailing stop loss.
Trade closed: target reached

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