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yogi_sharma_elliottician
Oct 22, 2020 6:10 PM

#RELIANCE ABCD PATTERN 

NSE:RELIANCE30
RELIANCE INDSNSE

Description

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As suggested in my previous idea, below 2163, 2121 and 2073 is expected, and as soon as it broke the support it made low of 2091. Now, RELIANCE has formed a reversal pattern. The pattern will be valid and trade can be executed only if price holds above 2134 levels for target 2188, 2226, 2256 levels, else we could see 2173 and 2156.

Link below for the previous idea.


Regards

Comment

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As suggested, coudn't move above 2134, now downside opened for 2173/53/45/18

Trade closed: target reached

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All downside targets reached
Chart PatternsTrend AnalysisBeyond Technical AnalysisRELIANCENIFTYnifty50
Comments
WiseTradingstocks
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kuchh bhi.....
RaviYendru
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I liked your color template combination :). Of couse your analysis as usual
yogi_sharma_elliottician
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@RaviYendru, thank you! i spent more time on this combination than my last 4/5 analysis :D
ankitgrvr147
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now where do u see the support...2030-2040 has acted as a good support in the past..seems this will be taken off as well
yogi_sharma_elliottician
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@ankitgrvr147, will wait to see how it reacts around 2000, else if this too taken out, will expect 1925/1900
mklives
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superb call sir..
yogi_sharma_elliottician
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@mklives, when will you stop calling me sir?
mklives
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@yogi_sharma_elliottician, great call dude
yogi_sharma_elliottician
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@mklives, Haha thank you mate
I0milliondollardream
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your template simply amazing. i can stare at this chart for hours without getting tired.
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