ManikandanElango

RELIANCE SHORT

Short
ManikandanElango Updated   
NSE:RELIANCE   RELIANCE INDS
Based on the previous resistance around 934 - 935... Dragonfly doji ...

Short at current levels for a target of

1. 910
2. 890

stoploss - 960 can be kept, but its also a resistance, hence keep a lower stoploss.
Comment: Trade active... Update stoploss to cost... 920 can be the first target as some intermediate resistance is there...
Comment: Target 1 - 920 reached....
Safe traders keep trail stoploss and ride it...
Comment: Trailing stoploss hit... One can enter again, as it is in the same resistance level... Keep d stoploss at 935
Trade closed: stop reached
Comment: Again Fall from the resistance... 920 - Target 1 reached... Go with trailing stop for 910 target
Comment: Trail stoloss to 920... Low made 913
Comment: Low made... 910... Update trail stoploss to 915, continue the ride..
Comment: Low made 900... Trail the stoploss to 905
Comment: All targets achieved... Previous swing low broken... More downside expected... Trial stoploss to 895 and ride till 880... Final target 880...
Trade closed: stop reached: Trail stoploss hit...
Comment: One can buy again with a stoploss at 880 for a target of 930...

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.