manavtechresearch

"TRIPLE BOTTOM ON THE CARDS FOR RELIANCE"

Long
NSE:RELIANCE   RELIANCE INDS
SUMMARY FOR RELIANCE
-stock has formed multiple tops and bottoms on weekly chart
-a break in a falling trendline is possible
-wait for a confirmation
-we are about to enter the supply zone
-a weekly close above the supply zone will lead to re-rating in the stock

"WEEKLY CLOSE ABOVE 2240 IN FUTURES /SPOT IS IMPORTANT FOR NEXT EXTENSION"
"WAIT FOR A CONFIMRATION"
"YOU CAN BUY ON A THROWBACK"

RELIANCE JUNE FUT
BUY@2240-2245(WAIT FOR A CLOSE ABOVE 2240)
STOP@2175
TARGET-1@2343
TARGET-2@2425
TARGET-3@2478
QTY="YOUR CHOICE'

NOTE:-
-MANAGE RISK
-DO NOT OVERTRADE
-DO YOUR OWN RESEARCH
Comment: wait for it to close above 2243
then only look for longs
we will wait
Comment: wait and track market is still in the supply zone
advance levels to watch 22438-2245
breakout should confirm upside trend
need to wait and watch
Comment: IS IT HEADING TOWARDS THE WEEKLY DESIRED CLOSE
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Comments

now at 2240 breaks will be a great Up move only
Reply
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