nimbuz90

Intraday short opportunity in Reliance

Short
NSE:RELIANCE   RELIANCE INDS
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3
Price are in a short term bear trend and are nearing towards the potential reversal zone which has supported the prices earlier. Now the CMP is 891 and it is expected to reach 870 level to establish a double bottom . Hence based on tommorow's opening price action, trade can be initiated either around 895-900 zone if it goes up or below 887 on succesfull breakdown signal.

Entry - 895-900 based on bear signal or below 887 breakdown.
SL - 907
T1 - 877
T2 - 870

Purely for study purpose.
Thanks
Trade active: Entered @ 900
Trade closed manually: Price is not moving as expected. Since its an intraday setup, i closed my position @ 895 making a small 5 point profit.

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