Reliance, I suggest to Short this stock at current price with following reason.
1. It has just came out from recently formed Supply Zone in 1 Hour Time Frame.
2. It has broken Fibonacci Retracement level of 38%
3. Crude Oil is Falling. So, Company margin also Falls
USOIL
RELIANCE
30/03/2019 TIME: 0947 HOURS ------UPDATE
1. Wait for Price to confirm outside One Hour Supply Zone
2. If It Form Umbrella Type Candle, Then Price may go above
1. It has just came out from recently formed Supply Zone in 1 Hour Time Frame.
2. It has broken Fibonacci Retracement level of 38%
3. Crude Oil is Falling. So, Company margin also Falls
USOIL
RELIANCE
30/03/2019 TIME: 0947 HOURS ------UPDATE
1. Wait for Price to confirm outside One Hour Supply Zone
2. If It Form Umbrella Type Candle, Then Price may go above
Comment:
Wait For another candle outside supply Zone
Comment:
Reliance:
At the EOD , it has formed inverted Umbrella Candle on Day Chart.
At the EOD , it has formed inverted Umbrella Candle on Day Chart.
2. Price again entered in supply Zone.