Reliance Breakout: Reliance has given breakout to both trending resistance and A strong supply zone. With a Kind of inverted head and sholder pattern. And has given closing above both the resistance. A short retracement can come but there is less probability of it. Short term targets will be 2250- 2300+ For holding period of 1-2 week maximum.
How to fing Breakout Trades: All the people watching my ideas regulaowould notice that I give Trade signals only for breakout Trading. This is because Breakout with volumes show us Institution Entery in the stock. It can be Traced by Following points.
1. breakout of Horizontal resistance and closing above it on day closing basis. 2. Breakout of a Trendline and closing above it on day closing basis. 3. Breakout of supply or and closing above it on day closing basis. 4. All the Breakouts must be done with High Volumes or volumes more than 20 Moving average of volumes. 5. We must buy the stock on breakout but Always consider a Retracement after it, Not necessary that Everytime a Retracement would come but we must consider it.
Note :- the Above trade is only for educational purposes please make your own research too before investing We would not be responsible for any profit or loss of yours on this Trade.
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As I said A Short Retracement Could come. It Came Yesterday and Took Support form the Previous Supply Zone which has Became a Demand Zone. Now Reliance is All Set to Go.
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Reliance has started its move and gave Closing above all the closings of previous 5 days
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Reliance Firing Up 🔥🚀 Made a High of 2220 Going Very Close to Our First Target🎯
Everyone Hold it with SL CTC
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Very very Close to Our First Target Just 5 points And we will be done with First Target🥇🎯
Trade closed: target reached
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1st Target Done 🏆🚀 Made a High 2263 😎🏆 Gave 5% in just Some Days👍
Hold More to come
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Made A High of 2275 🔥🚀
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Reached Very close 🤩
Made a High of 2293 🚀🔥 Just 7 points Left..!!!
Hopefully it will cover that
Trade closed: target reached
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Big blast in Reliance 💥 Crossed all Target 🎯🥳 Made a High of 2303 🤩 Gave Nearly 7% Returns 🏆
All Of My Ideas Are Firing Up😎
Everyone Share your Experience on my Ideas and Feel free to Ask Any Trading Related Queries on any Stock .
And Do let me know in Comment That you Traded it Or Just Saw
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Reliance Targets Update 🎯 Next Targets 2400 2430 In Week
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Reliance Blasting 💥 Made a High of 2382 Gave a Return of More than 10.5% 🏆
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Reliance is Just Breaking it 🔥🔥🚀🚀 Made a High of 2480 15% Returns Done Here 🤩
Nice Explanation!!!! It retested today after breakout.
Arshad_Khatib
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@ramanchauhan Exactly as I said Are you invested in it..?
Thank you very much For commenting
gr8ston
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@Arshad_Khatib, I invested in it after seeing your idea :-) lets hope it shoots from here. Thank you
Arshad_Khatib
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@gr8ston, I m very happy that you liked my Idea
But Global Markets, mainly SGX Nifty is much weak
as Reliance is a large contributor to Nifty 50 Weakness would come in reliance.
But Do not panic It would recover Stay Invested
gr8ston
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@Arshad_Khatib, Sure let me hold :-) Thanks for the advice and heads up.
Arshad_Khatib
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@gr8ston consolidation has gone now profits are on the Way buddy