HarshShivlani

Reliance Flag Breakout

Long
NSE:RELIANCE   RELIANCE INDS
Everything in charts.
Aug CE looks good as July CE will just eat your premium and you might lose money even if target is achieved.
Take calls at your own risk.
Comment: As expected, stock made a pullback providing an opportunity to buy more and took support around 1100 as mentioned.
2 targets achieved. Book 50% now, 25% more around 1160 levels and all out at 1180 levels. Stock may face resistance at that as it's +2 standard deviation in the current upward channel and thus may retrace to mean after that.
Comment: 1180 final target achieved.
Closing the trade.

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