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anifunny
Jun 30, 2020 5:54 PM

Short Reliance for first target of 1650 Short

NSE:RELIANCE30
RELIANCE INDSNSE

Description

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  • Reliance broke below support at 1710-1713 with an increase in volume

  • So what comes next, another attempt of testing to cross above 1800 or correction towards 1600 ?

  • I would be betting for correction with entry around 1710(if I get an opportunity to) with stop above 1740(today's high) and first target of 1650

  • This gives Reward/Risk of 2:1 which isn't exceptional but comes with a very high probability


Trade closed: stop reached

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false break.. get ready for continuation of the rally
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