jashjacob

RELIANCE SQUEEEZE - BREAKOUT SETUP

Long
NSE:RELIANCE   RELIANCE INDS
5th October saw huge profit booking in reliance against very good news of investments in Reliance Retail over the weekend.

Investors are consolidating positions in Reliance.

Overall, Heavy-weight like Reliance was in consolidation impervious to the trump's sign of relief.

DOW^ has seen huge reversal from last market close to today open with Trump's health information.
Comment: Broader market was +ve.

We saw NIFTY break 11600 after multiple rejections during the trading session.

Relaince has been performing sublimal.
Trade active: Beautiful breakout above our trendline.

Respect the charts.
Trade closed manually: Breakout over resistance. Target achieved in the first hour of 7th October Trading Session.

Await further charts.

Investors can hold for LONG.
Comment: Huge selloff seen towards end of day.

Hovering around the resistance.

Comments

Yes, you are right
+1 Reply
jashjacob jaydipvariya90
@jaydipvariya90, It is settling.
Reply
Yes, lekin hai bearrish
+1 Reply
jashjacob jaydipvariya90
@jaydipvariya90, Broken above our resistance.

I have closed my swing positions. Will observe for further trends towards the end of the day.

This could not have been a better setup. Cheers!
Reply
sir, RELIANCE creates new low🤔🤔🤔
+1 Reply
jashjacob jaydipvariya90
@jaydipvariya90, Candles forming on our bottom trendline.

2200 has support as of now. Let's see for the next few days.

2140 is still our long term support from the month of Setember highs.
Reply
@jashjacob, RELIANCE 2200 ka support kal todega or maya low banayega
100% sure nahi hoon
2200 support strong
+1 Reply
jashjacob jaydipvariya90
@jaydipvariya90, We are looking at a gap up.
Reply
jashjacob jaydipvariya90
@jaydipvariya90, Checkout the breakout today!
Reply
Seems to be trading in range as of market open +1H.
+1 Reply
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