Get started
RELIANCE INDUSTRIES LTD
Long

RELIANCE Potential Inverted HnS

By ST_SNOOPY
Updated
Reliance is in the process of forming an Inverted Head and Shoulder pattern. One can enter on the break of the Trendline. The stock is also at the Important Fib level of .5 and .618 of the previous up move so that adds confidence to the trade
Trade active
Trendline broke but wait for retracement.
Trade active
Strength coming in
Trade active
2% up from breakout
Trade active
Today's fall was on back of higher volume. If you want to enter, wait for the retest of 50 or 200 DMA. They will provide support to the stock
Trade active
5% Up from breakout level. It is advisable to book out 50% quantity
Trade active
2,500 achieved
Trade active
8% up from breakout
Trade active
One can book rest of the quantity around 2,580 levels
Trade closed: target reached
Chart PatternsTechnical IndicatorsniftylevelsniftytrendRELIANCEswingswingsetupswingtradeswingtraderswing-tradingswingtradingTrend Analysis
ST_SNOOPY

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.