superbullish on reliance

kacharts Premium Updated   
it will lead nifty to new high , reliance is superbullish on daily weekly monthly and quarterly chart . one can buy at 1088 for 1200 level . sl 1050,
remember simple funda to earn is analyse and follow just trend..
long trend and traingle breakout above 1085
Comment: 8.23% moved
Comment: 9%, more to come, and nifty 9000
Comment: 1220 high made , call closed . positional trader can hold position with 1160 sl for 1300 level , nifty almost 9000(more to come next week, new high 9100)..
Comment: 1250 stay holding with 1220 sl for 1300
Trade closed: target reached: TARGET REACHED 1300 RELIANCE FROM 1090 -1300
Comment: well once again reliance in lime light. lets analyse what has happend in it and what possible could happen after the news which is there.
Reliance Industries has been barred by Sebi (Securities and Exchange Board of India) on Friday from equity derivatives trading for one year. SEBI has imposed BAN following alleged fraudulent trading in the futures and options (F&O), or derivatives, of RIL’s former listed subsidiary Reliance Petroleum, which has since been merged with the parent firm. Sebi has allowed RIL and other entities to square off or close existing open positions.

The regulator has asked RIL to pay Rs 447 crore along with an annual interest of 12 per cent since November 29, 2007, taking the total disgorgement liability of the company to nearly Rs 1,000 crore. It has been asked to pay the amount within 45 days.SEBI said Reliance has made gain of 551 cores so technically reliance has to pay fine of just 450 cores which is minuscule for company having market cap of 44 Billion USD. This News will be sentimentally negative to stock but long term prospect will not get affected. Lets study the technical parameter of stock how it can react on Monday.
well as shown in charts we have gann support in between of 1245-1250. if that gets violated support at 1210-1215.
below 1255 short for 1220
Order cancelled: no shorts below 1248 . very imp support rather buy with 1248 sl for 1300 level
Comment: shorts got activated below 1248


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