RELIANCE TRENDLINE BREAK ON DAILY CHART
-stock created a consolidation base near its 200-ema
-after consolidating for months the stock has managed to break above 2020 after a long-time
-i am using yesterdays low as a stop for shor-term trade and 20-ema as for a positional trade
-note that if stock closes above 2050 on daily chart then the stock opens up for a rally towards 2150-2175
-one can neter long near 2015-2020
-enter a stop below 1995 for short-term trade
-enter a stop below 1970 for a long-term trade
-initial short-term target is 2040-2050
-positional long target is set @2120-2150-2175
-one can wait for a confirmation for positional trade in reliance
-wait for a close above 2050 on daily chart
-after consolidating for months the stock has managed to break above 2020 after a long-time
-i am using yesterdays low as a stop for shor-term trade and 20-ema as for a positional trade
-note that if stock closes above 2050 on daily chart then the stock opens up for a rally towards 2150-2175
-one can neter long near 2015-2020
-enter a stop below 1995 for short-term trade
-enter a stop below 1970 for a long-term trade
-initial short-term target is 2040-2050
-positional long target is set @2120-2150-2175
-one can wait for a confirmation for positional trade in reliance
-wait for a close above 2050 on daily chart
Trade closed: target reached
SHORT-TERM TARGET ACHIEVED 250*30=₹7,500/-
Trade active
ONE CAN STAY LONG FOR POSITONAL TARGET OF 2150-2180 NOWTrade active
RELIANCE ABOVE 2100+++
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