Description
⋅ 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