raj3elite

Cup formation on Reliance - LONG

Long
NSE:RELIANCE   RELIANCE INDS
Technical Analysis:
EMA 5/20 bullish crossover and EMA 50 lying below the price.
Stochastic on bullish but lying in overbought level and may take some correction.
MACD on bullish and histogram on above the level '0'.
RSI above 50.

Trade:
Buy above - 1042
Target 1 - 1049
Target 2 - 1058
Stop Loss - 1033

Reward Points - 16
Risk Points - 9
Trade active: Sorry for late active...
Trade active: Target 1 - 1049 achieved.
Comment: Reliance approaching to tgt 2 but remember at present Reliance on overbought level at 1hr chart...
Trade closed: target reached