AbhishekHSinghCMT

Reliance- Bounce in the zone 1045-1050 With Support@1000

Long
AbhishekHSinghCMT Updated   
NSE:RELIANCE   RELIANCE INDS
5
Likely, we will expect a bounce which could retrace 38.2% to 50% of ii-iii wave distance & can travel in the zone 1045-1050- which shall be inspected again for bearish future moves.

Trading Strategy
1000 is the key support level- holding that level downside- we will expect a bounce in the zone 1045-1050 & sellers could come into play in that zone- which I shall check again at the later stages post U.S. Elections outcome.

Puking Exactly from Triangle Top- Excellent Risk, Reward Ratio
Trade active: 11:46 Hrs 7th Nov2016

Last Price-1003

Bullish Bat with 1000 as important low - can look for targets as 1008-1013 & above 1013 for 1045-1050

Trade active: 13:21 Hrs 7th Nov2016

Last Price@1002.35

For the last 90 minute price has been moving in the range 1000-1003. These setups are highly rewarding setups as one has to lose 1-2 bucks & gain is big.
Trade active: 13:27 Hrs 7th Nov2016

Last Price@1004.50

We will trail our stops at 1001 & if hit we will exit Reliance for the time being else target is 1008- 1013 & Above 1013-for 1045-1050
Trade active: 14:01 Hrs 7th Nov2016

Last Price@1001
Last Session Low & Traded Price was exactly 1001- Testing too much of patience. We are out for the time being.
Trade active: 14:43 Hrs 7th Nov2016

Last Price@1004.50

Who is buying from 1000 Marks?

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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