Somanathrout

long reliance for 2195

Long
NSE:RELIANCE   RELIANCE INDS
reliance is in high uptrend and running in all time high. it is usually very difficult for traders to trade in this type of situation. I am taking help of gann method and febonacci numbers to calculate the future price.

it can be seen that at the fibonacci levels price has shown its volatile actions and also at the gann lines. according to it reliance must not reverse before touching the median line at least. this is a weekly chart and decisions to be taken on candle close in a weekly chart.
Everything is mentioned in the chart.
Comment: reliance have strong support around 1995. long from there to target 2 with stop loss of 1968
Comment: reliance is breaking weekly support at 2114.23

alert. only long above 2114.23
Comment: long only above 2145 close basis on hourly chart.

happy trading
Comment: reliance given close above 2145.
keeping a stoploss at 2110 long for target 2 at 2227
Comment: reliance all target hit.


hold.
Comment: stoploss should be trailed to 2200 on weekly close

Comments

hope all will have gained profit who has followed this chart.
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