Reliance- Important Support Zone 1890-1900 (Catching The Bottoms

Market Commentary

As suggested over the last idea - comment this morning @ 09:51 Hrs / 27th Jan2021 - 1890-1900 is the important zone - If it holds then another upside push is open & it can travel to 1975/2000/2020

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********Note- Falling below 1890 which is critical level-it may retest 1835 & new low expected************
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Once it crosses above 2020 - upside extension can be seen to 2050-2075 where traders have to be careful


Last Idea- What a top @ 2120

Trade active:

18:16 Hrs / 27th Jan2021

Last Price- 1895

1920-1925 was taken out in today's session -next support which is "critical" & most important zone 1890-1900 - If it falls below 1890 then it has all chances of slipping to 1835 & even making new lows

Holding this critical support zone 1890-1900 - traders can still expect upside push but overall structure is bearish so proper risk management is required in trading

Trade active:

09:24 Hrs / 28th Jan2021

Last Price @ 1912

It was false breakdown below 1890 - as it has bounced above 1890 - traders should look for 1950/2000 + but manage with proper risk

What a beauty - yesterday, I was taking about false breakout topic in the comment below to Terminator_1

Comment:

09:54 Hrs / 28th Jan2021

My bad for for using wrong words ------ "taking" about false breakout instead of using "talking"

Trade active:

10:25 Hrs / 28th Jan2021

Last Price @ 1904

Traders have initiate their positions always close to key level- 1890 or max zone of 1890-1900

As going below 1890 - stock will always have uncertainty & if you fail manage your risk - it can trouble you.

Please manage risk properly which important aspect of trading. Thanks

Trade active:

13:31 Hrs / 28th Jan2021

Last Price @ 1895

False breakdown 2 times since morning -

1st time - made low @ 1878

2nd time - made low 1876

Do you think bounce can be expected to 1950/2000+