Reliance Ind Ltd Long @ Rs. 2080-2100 or Below

RELIANCE
Entry 2180-2100 or Below
Target 2400+ New All Time High
SL: 1890
Time Frame: 2-4 Months

Stock is trading at 2094, Recently has shown movement from 1992. There is Supply at 2096 to 2126 so it has stopped at this point on last trading session. It may be down by 20-30 points and after that may start journey north side or mat be range bound. If able to sustain above 2126 then next Supply zone is 2267 to 2304 . In this range it will see some selling pressure. if stock is able to cross 2304 then there is no supply and may touch a new all time and will enter in new territory.So probability is more to earn on buy and hold for some months. Buy delivery and hold to 2-4 month.
See the Previous posing of reliance which tells about the demand and supply zone. You will able to see the price movement between these zone.

Disclaimer: author may enter in trade, take your own decision , This is an trading idea not an trading or Investment advice.

Trade active:

Stock is moving up , if perched wait will reach to target and new high.

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Trade active:

Stock can make new ATH during the week

Trade closed: target reached:

Target Reached , i was inactive in the market so could not update it.