AbhishekHSinghCMT
Short

Reliance Industries - Wave Talks- Careful at 1600 Highs

NSE:RELIANCE   RELIANCE INDS
Disclaimer
-----------------------------
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.

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Trading Strategy

Safe Traders
Sell below 1390 for 870

Risky Traders
Sell Close to 1600 for 870

--------------------Do not hold any positions if moves above 1600------------------------------------

Thanks for watching this video & your precious time.
Trade active: 22:48 Hrs / 8th June 2020

Last Price @ 1569 ( Adjusted Closing)

Note - Kindly don't become emotional with markets & only keep eye on the price levels.


Update for 9th June 2020

Risky Traders Next Trading Strategy-

Plan A
Sell below ---------------1550 levels strictly

Plan B
Short term buy for 1650-1675 levels tomorrow -------------touching the channel tops once done then look to sell holding strictly below channels
Important Note-
(In case it crosses channels on the upside you can hold your long or buy positions strictly taking care that it should not drop below channels afterwards or book in buy positions & out as it may drop later from the channel tops )

Trade active: 13:11 Hrs / 9th June 2020

Last Price @ 1548

Till Mid Session so far- Stock held above 1550 levels -earlier low was 1551- It just broken 1550 levels now which is suggesting to be careful.
Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
https://twitter.com/TalksWave

Comments

Hi Abhishek

I am trying to convince myself about it but how can we ignore the Jio effect, 7 deals in 2 months span which could lead this stock to ATH from 900 levels.
+3 Reply
@PriyalGupta, WHat are you trying to convince yourself? where it will lead from 900 levels?
+3 Reply
But @Abhishek reliance is not purely commodity business then whether 5 th wave rule apply
+2 Reply
AbhishekHSinghCMT purohittapan42
@purohittapan42, Oil is major business. Commodities have largest 5th so Reliance has done justice to what written in books. All commodities have largest 5th waves. Either ways wave 1 is smallest and guidelines followed so structure should have no doubt. Next, it should be your risk management to trade carefully. Thanks
+1 Reply
purohittapan42 AbhishekHSinghCMT
@AbhishekHSinghCMT, Thanks for quick and elaborately discussion
Reply
MrAkshatP AbhishekHSinghCMT
Hi @AbhishekHSinghCMT, good projection,kindly share some books ☺️✌️
Reply
edahi1213 AbhishekHSinghCMT
@AbhishekHSinghCMT, Thanks for that explanation. Learn something new everytime you post.
Reply
Thanks for the idea..
+1 Reply
@Manav2805, Welcome
Reply
CUP AND HANDLE IS DONE SO I THINK IT WILL MOVE TO 1900
+1 Reply
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