I’ve got my sights set on Reliance for a short-term trading opportunity. Before you dive in, here’s what you need to know:
Analysis: On the daily and four-hour time frames, we’ve got an intriguing pullback opportunity that could lead to some upward movement.
Caution: Keep in mind, the overall direction of this stock is bearish, so tread carefully.
Trading Opportunity: If you’re keen to seize this chance, consider a long position from the indicated levels.
Derivative Traders: For those in the derivatives market, keep an eye on 2200 or 2300 CE options for November expiry.
Risk Management: Always set stop-loss orders and be prepared for fluctuations in the market.
Takeaway: This isn’t an investment opportunity but a short-term trading play. If you’re comfortable with short-term moves, this might be your playground.
Your Strategy: What’s your take on Reliance? Planning to hop on this ride or staying on the sidelines? Share your thoughts below!
Stay Informed: Follow for updates on this trade opportunity and more.
Happy trading!
Trade active
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TSL set at Cost to Cost
Comment
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There is a chance to book 1:2 to close the trade. If anyone have not closed yesterday there will be chance today to book the profit. To book more than 1:2 profit, set your TSL to cost to cost and then trial your profit.
Trade closed manually
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Made handsome profit in RELIANCE23NOV2200CE and at the end of the week I'm not interested to risk my profits. So, I closed this trade. Will see you in the next trading