Akhil008

RELIANCE | 930 is Key

NSE:RELIANCE   RELIANCE INDS
930 is a very critical level for Reliance . A close in daily basis below 930 might trigger a sell off with potential supports at 908 and 875 levels. However is 930 holds and move up, there's a good chance of achieving triangle target @ 1035 levels. So, existing or new longs can have stop below 930 and look for 1035, however if closes below 930 we can initiate shorts with stop above 930 with 908 and 875 in sight.
Comment: 908 holds as resistance now. May be we'll get a bounce o 920. However technically, next stop looks to be around 875.
Comment: 875 holding. There's a good chance of a bounce from here. Can initiate longs at current levels.
Trade active: Buying
Comment:
Comment: There's a good chance for the stock to consolidate between 875 and 910. Placing stops below 875 will be apt.
Comment: Daily close above 910. We might see 930 sooner.
Trade closed: target reached
Comment: 930 area rejected. We might see a pull back, may be towards 920/910. Fresh longs can wait imo.
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