AbhishekHSinghCMT
Short

Reliance- Will it start moving down to 930-940 zone?

NSE:RELIANCE   RELIANCE INDS
(( ))- circled wave
Corrective Wave, which started from 930 lows has fulfilled the minimum criteria of kissing the zone of 1035-1040 as expected in previous updates by making a close recent high@1032- where it travels 61.8% of ((ii))-(( III )) wave distance & could be a double top which is not confirmed yet.

Trading strategy
It should hold below 1030 to give us confidence that a down leg has started for the 930-940 zone-likely trading in the range of 1020-1025. So, In coming session we need weakness in the stock & if that turns out correct, then we will likely plan to take selling opportunity on the bounce back & keeping a tight stop loss of 1033 & above.

Risk/Reward- 8.25 - Gain of 90 points & Stop of 11 points.

Related Analysis Attached Below
Dec 23
Trade closed manually: 17:15 Hrs 23rd Dec2016

Closed -Do refer the latest ones always
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - India
http://in.tradingview.com
| LinkedIn
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
one more thing of your adani port. today two days back clsa gave buy call to adani ports at the top of this current rally.with a target of 375.now i am confident enough ur call will get success.
Reply
@sandy, CLSA talks for 10 years time frame not from trading point of view.
Reply
Gopal_Dhamija AbhishekHSinghCMT
@AbhishekHSinghCMT, IV gone in the territory of I..... still expected dwn tgt !
Reply
@Gopal_Dhamija, I have updated in the post of Reliance
Reply
@Gopal_Dhamija, new post on reliance
Reply
Gopal_Dhamija AbhishekHSinghCMT
Reply
@Gopal_Dhamija, Where means? - I think I have mentioned in heading to--
Reply
AbhishekHSinghCMT AbhishekHSinghCMT
@AbhishekHSinghCMT, reliance I have already closed as per latest analysis.
Reply
Gopal_Dhamija AbhishekHSinghCMT
@AbhishekHSinghCMT, k, still its voilated !
Reply
@Gopal_Dhamija, Hello Please read the latest one why I closed
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out