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Nikhil_Tripathi

Reliance support coming soon; Planning to LONG

Long
RELIANCE INDS (NSE:RELIANCE)  
Nikhil_Tripathi Updated   
NSE:RELIANCE   RELIANCE INDS
Support and Resistance Trend Lines RELIANCE motabhai positional LONG
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supportandresistance trendline reliance motabhai positional long
Market ki saari ummedein "Mota Bhai" per tiki hui hain. Ab Nifty ko yahi bacha sakte hain.

Daily timeframe support coming soon
I'll go long at "one green candle (of course with full body)" once it tests support line on daily timeframe.

SL and Target will decide afterwards.
Comment:
Reliance Q4 Results are likely to be announced on 28 April.
We may see huge short covering on 27 or 28 April.
Always remember, whenever there are more longs before the results, long unwinding will take place before results. Similarly, if there are more shorts before the results, then probably SHORT COVERING will happen before/on the day of Results (here, Reliance has huge shorts, which I think will be covered on/before the results)
Comment:
New entry will not be taken until it tests its support level.
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