Intraday opportunity in RELIANCE, 2nd July 2021
Updated
Reason: RELIANCE is below it 50 Moving Average and 20 Moving Average. It may try test it's 2113 level.
In 2 scenario you can short for a target up to 2078.
1st scenario to short: Reliance test it's 2113 level and fail to give breakout. Stop loss would be 2122.
2nd scenario to short: Reliance can't go above 2102 and fail to give breakout, in this case stop loss would be 2114.
NOTE:
USE 5 MINUTE CHART FOR THIS TRADE.
DO YOUR POSITION SIZING CORRECTLY.
DRAW THE LEVELS IN YOUR CHART AS WELL.
DON'T BECOME GREEDY.
DON'T TRADE IN FOMO IF YOU MISS THE RIGHT ENTRY. THERE WILL BE ANOTHER OPPORTUNITY TOMORROW.
In 2 scenario you can short for a target up to 2078.
1st scenario to short: Reliance test it's 2113 level and fail to give breakout. Stop loss would be 2122.
2nd scenario to short: Reliance can't go above 2102 and fail to give breakout, in this case stop loss would be 2114.
NOTE:
USE 5 MINUTE CHART FOR THIS TRADE.
DO YOUR POSITION SIZING CORRECTLY.
DRAW THE LEVELS IN YOUR CHART AS WELL.
DON'T BECOME GREEDY.
DON'T TRADE IN FOMO IF YOU MISS THE RIGHT ENTRY. THERE WILL BE ANOTHER OPPORTUNITY TOMORROW.
Trade closed: stop reached
Totally unexpected move in Reliance today.
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