RELIANCE INDS

Jan 14, 2020

After reversing from a Bearish Harmonic Crab, it took support at an Ichimoku Kumo cloud from where it bounced back to the Kijun resistance at 1560 in daily time frame. In hourly time frame it is near an important Kumo support. If it holds above 1510 it can retest 1575-1600

Jan 17, 2020

Note

1st objective 1575 complete.
Since results are expected today post market, a protective idea to insure the rise of 45 (1575-1530)
(1) Switch to 1620CE cmp 15 (secure 30 rise)
(2) Hold & hedge with 1600CE cmp 25 short
(3) Hold & hedge with 1540PE cmp 15 long
(4) Simply close it and go and enjoy your weekend