AbhishekHSinghCMT

Reliance - (Wave Analysis) Cracks 4% - What A Top at 2120!!!

NSE:RELIANCE   RELIANCE INDS
Last Price- 1970

Hope you enjoyed the selling at the tops of 2100

Channel Support at 1950's could support the stock & If drops below 1920-1950 that will be next clue for the stock to do bigger damage.

Happy Trading!!!



Last Idea - Corrective 1st Leg Done at 2120
Trade active: 14:08 Hrs / 25th Jan2021

Last @ 1943

Entered in danger zone 1920-1950 so careful as suggested in the main update
Trade active: 19:07 Hrs / 25th Jan2021

Last @ 1941

Assuming, in the session for 27th Jan2021 - stock holds in 1920-1950 zone then it can push upside or retest 2000 & 2100 back again which has to be managed with proper risk
Trade active: 10:51 Hrs / 26th Jan2021

Last @ 1941

Kindly do not get emotional with the stock. Price if fails to hold 1920-1950 zone - damage could be really big- Just reminding once again

If drops below 1920 - 1835 & lower targets of 1700 is very much possible
Trade active: 09:51 Hrs / 27th Jan2021

Last @ 1903

Any selling next should be taken only below ---------1890 else 1890-1900 is also can as support & upside bounce can be seen

Trade closed: target reached

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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