LONG Reliance

All the trend lines drawn on the chart are trend lines with multiple reactions.

Stock has recently taken support off a trendline and is approaching the next one.

Upon breakout of that trendline, we can see another leg up for Reliance.

I will keep two stop loss points in this trade. I am carrying this in cash(not in F&O).

This is simple price action and trend analysis.

See my remaining charts for understanding price action and trading psychology.

Trade active:

1950

Trade closed manually:

Kept position too long and it is currently in a consolidation zone. Stock is not trending. Will re-enter when stock starts to trend.

Comment:

1988