Reliance : A Possible Breakdown or a tough breakout

RELIANCE INDSNSE

Description

⋅ May 5, 2020 7:00 AM

Reliance is in a range where it is in distribution or accumulation nobody knows. But there are 2 possibilites

1. Breakout : If it goes above 1500 with volume then buy it with sl 1440 target 1630-40 (Tough Possibilities)

2. Breakdown : If it goes down 1420 with volume then sell it with sl 1480 target 1270-80

Comment

⋅ May 6, 2020 4:51 AM

Near resistance volume is drying it means a big move is on the way. Put your "STOPLOSS" order very tight for short 1500 for long 1440.

Chart Patterns RELIANCE

Comments

jasakaal47

⋅ May 5, 2020 11:40 AM

Sir
Do you see any mauplation with stock price?

maneeshaggarwal

⋅ May 5, 2020 3:32 PM

@jasakaal47, WATCH 1500 AND 1420 LEVELS.