Reliance: Analysis

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.
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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.

Comment:

Consolidating on higher levels.

Trade active:

Entering at 2245.95. For a long term view.

Comment:

Full in @ 2211.95. Good Profit in progress.