Buy 1100 Call currently priced at 37 with expected first target price of reliance of 1132 , second 1167 and final target of 1200. You can also go for lower priced call of 1120, 1140 and 1160. Depending upon your investment and risk profile.
Trade active:
Reliance over the last two trading sessions has formed base and didn't fall. Now closing at 1112, over the next three days we can see rise of 5% and test of our first 1132 target and than 1167.
Patience is key in earning rewards, conviction in trade will be rewarding.
Patience is key in earning rewards, conviction in trade will be rewarding.
Trade active:
Reliance nearly did our first target of 1132 and now tested its support of 1120. Its expected to break 1132 and move to our second target of 1167. So, just keep stop loss of 1120 and hold for the target. Patience will always get rewarded.
Trade active:
Today, we comfortably crossed 1132 and closed at 1137, the trade is still on with Call price rising to 46. Tomorrow, we should see reliance testing 1142 range and once comfortably above 1142 it will go for 1150 level.
So, keep holding to your position for second target of 1167. Stop loss @ 1130.
So, keep holding to your position for second target of 1167. Stop loss @ 1130.
Trade active:
Yesterday, we did reach close 1150 as reliance move up towards our second target of 1167. However, it reversed some of the gains as supply got absorbed. Today, will be crucial day as some weakness will be there given fed decisions to hike more rates than expected. We should see some fall in the morning and if nifty held above 10900, we could see bulls taking over and reliance moving towards our second target. So, have patience and wait for second target unless trend reverses.
Trade closed: stop reached