Reliance: Analysis
Updated
Reliance has broken a rectangular pattern in daily time frame and it is at all time high levels and in upward momentum.
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Reason to Buy after Retracement:
1) Pattern breakout
2) Good volume at breakout
Indicator supported this breakout:
1) Bollinger bands
2) Moving Avg.
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Planning on Buying at retracement. Stop loss will be below immediate support level.
.
Hault candle possible for near future. Trade with RR Ratio in mind.
.
Reason to Buy after Retracement:
1) Pattern breakout
2) Good volume at breakout
Indicator supported this breakout:
1) Bollinger bands
2) Moving Avg.
.
Planning on Buying at retracement. Stop loss will be below immediate support level.
.
Hault candle possible for near future. Trade with RR Ratio in mind.
Trade active
Still waiting for a retracement. Buying levels 2300 for short term.Note
Consolidating on higher levels.Trade active
Entering at 2245.95. For a long term view.Note
Full in @ 2211.95. Good Profit in progress.
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