RELIANCE FALL COMING

I am anticipating that reliance is about to fall
1. Charts are looking Bearish
2. No strength in buyers
3. Sellers are dominating and market is range bound right now
4. Data Suggest that Big Boys making position on sell side
5. Option Chain Negative
6. I think it will fall around 400 points
This is my view trade on your own risk and on your own study

Comment:

Current Scenario -
---> Reliance is at its supply Zone which will act as a resistance if supply will be enough it will fall from this level and get back to 1900 area which is acting as a demand zone.
---> Now what i am anticipating is that if we get enough supply and break 1900 levels than we can anticipate again for lower levels.
---> Big Boys making there positions in this rangebound area according to Futures OI.
So What i think is we are in a supply zone and if we get heavy fall from here so this is the best area to short RIL with min Stop loss

Comment:

Reliance maintaining inside the box even after nifty open at new ATH Today.
May be nifty will reach its new highs if Reliance Help Nifty Out :D
Still we are good with this level no breakout yet my view is still bearish about reliance till it breaks 2150 and maintain around this point

Comment:

Still holding at top of the range in this 200 pts distribution zone, Shorting reliance from here would be the great risk to reward.
I am still anticipating fall in reliance around 1900 which is going to be our 1st Target.
If it breaks the bottom of this range we will move further down to 1600 which is going to be next support.
View will be negate if holds above 2150

Comment:

Today Reliance fall 72 points with good volume support and OI is also increasing. Move was in our favor and the supply zone still holding. I think it will move further to 1930 level. If we break 1930 level then we will fall back to 1840 level which is currently working as demand zone