AS PER WE DISCUSSED RELIANCE MOVED AS PER SCENARIO 2 (A-C-D-E) . (FOR DETAILS CHECK MY PREVIOUS POST ON RELIANCE) NOW THIS ANALYSIS IS FOR NEXT FEW TRADING SESSIONS( NEXT 1.5 WEEKS ) MONDAYS LEVELS ARE CRUCIAL FOR RELIANCE IF IT CLOSES ABOVE 1610 CUP AND HANDLE PATTERN WILL CONTINUE IN THAT CASE WE HAVE CONDITIONAL BUY ABOVE 1610 FOR TARGETS OF 1640, 1655. NO TRADE ZONE IN BETWEEN 1580 TO 1605 LEVELS IF THE PRICE ANYTIME CLOSES BELOW 1550 WE LL SHORT RELIANCE ONLY BELOW 1548 FOR THE TARGETS 0F 1526, 1505.
DRAWING ANALYSIS : PRICE HAS A UPWARD RESISTANCE AS PER PITCHFORK A .382 , IN CASE OF CUP AND HANDLE PATTERN ,PRICE MAY TOUCH AT LEAST .621 ie. 1655 levels . IN THE CASE OF DOWNFALL IT WILL TRY TO TOUCH THE LEVELS OF PITCHFORB .621 AT LEAST ie. 1504 levels.
kindly maintain the levels disussed above , HAPPY TRADING . AND THANKS FOR ALL THE SUPPORT YOU ARE SHOWING. IT MEANS A LOT TO ME . IT MOTIVATES ME to WORK HARD SO KEEP SHARING THE KNOWLEDGE and do comment your opinion ,views below !
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OPENED GAP UP AND GAVE OUR TARGET 1 NOW FOLLOW ALL THE LEVELS SELL BELOW 1550 ONLY AND BUY ABOVE 1620 ONLY
bro, thanks for this valuable information. What do you think for monthly trend from today?
PINANK_SHAH
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@chander.ajay, monthly trend looks bullish can even touch 1680 levels there it faces resistance so it can come back to todays level again
if it closes above 1630 tomorrow ,the trend for next 6-7 sessions will be up