RELIANCE
has reached its retesting level and is giving an indication that it is ready to move up the ladder. We will be buying above the high of 9th November, 2021 to ensure that we have bought it at a right level as the stock shouldn't give us a false retest, hence keeping the stop loss just below the candle that retested the trendline on 8th Nov, 2021 at 2450. We will be looking at a profit with a risk to reward ratio of 2:1 which is a fairly good reward, hence our target will be 2690. It is a small swing setup for short term and swing traders who like to take advantage of opportunities presented to them with a balanced strategy. Happy Trading Everyone and follow me for such beautiful setups and swing trades to make smart money.
Trade active:
The trade has activated today at 2530. Happy trading everyone.
Trade closed: stop reached:
Due to the Reliance Saudi Aramco deal, Reliance and Saudi Aramco witnessed a downfall and hence the stop loss was hit. Always keep your stop loss, it will never pinch you in the long run. Happy trading.