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ParyataK

RELIANCE Long Call Analysis @CMP

Long
RELIANCE INDS (NSE:RELIANCE)  
ParyataK  
NSE:RELIANCE   RELIANCE INDS
Trend Analysis Chart Patterns Parallel Channel ril relianceindustries reliancelong breakout breakouttrading longsetup paryataktrades
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trendanalysis chartpattern parallelchannel ril relianceindustries reliancelong breakout breakouttrading longsetup paryataktrades
RIL is trading in 2 beautiful parallel channels as you can see in the chart. After the recent fall from its highs of 2750+, the stock has taken support from the lower band of upper parallel channel. This view is supported by a supremely bullish Doji (Bullish Hammer) Candle, this signs a strong pullback to retrace its previous highs of 2750. Possibility of a strong breakout can NOT be avoided, if the stock gains strong momentum from here. I am personally bullish on this stock and added a few stocks at this level for trading purposes. Go LONG on Reliance.

*** I am Not SEBI registered. Kindly take advise from your consultant before taking trade.***
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