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srikartiram
Nov 17, 2020 6:12 AM

RELIANCE | Again at magic level - Lets try for 8% swing Long

NSE:RELIANCE120
RELIANCE INDSNSE

Description

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RELIANCE | Again at magic level - Lets try for 8% swing

Also i see some decent INHS pattern in lower time frame (2 hours)

CMP : 2000
SL : 1960
Target : 2170

Almost 1:5 risk reward setup.

Trade closed: stop reached

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Head and ShouldersTrend LinesCandlestick Analysissmalltradepositionalswingtradingmagiclevelbounceback
Comments
Rosh10
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@srikartiram - Could we expect this target before the weekend???
srikartiram
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@Rosh10, I dont time the market sir, please avoid option buy based on this call.
Rosh10
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@srikartiram, ok chief
ajaya.mahalik
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Sir ,Rel Ind tested 1915 as per my previous MSG on 18th NOV. Trend is downword. can test 1835 area previous LOW. Or Else . next week will decide lower or higher. Most probable downtrend will continue... if Nifty corrects.
ajaya.mahalik
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I think the wave is downtrend. Can test1915 area can get strong support. or can retest test 1835 zone. if profit Booking comes on Nifty.
ajaya.mahalik
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@ajaya.mahalik, 1915 area tested today. Monday onwards decides if sustains 1915.if down on monday, tgt will be 1835 zone. the tgt area will be 2080, 2150, 2270, Now the trend is down. wait & watch.
.
srikartiram
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@ajaya.mahalik, Great work.

I think you are insider of this RELIANCE :D
ajaya.mahalik
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@srikartiram, Sir Im just a Learner. The study is going on. Later we shall discuss. My work only study the charts. still now I am not a trader or Investor.
srikartiram
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@ajaya.mahalik, Great going :)
ajaya.mahalik
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@srikartiram, No sir, Purely Technical study the chart patterns daily. Its only the importance of study. And Now me a learner from a Mentor. Who is my Guru. And he is the famous Investor in Foreign countries of Millions of dollar. If you have some doubt can ask any question regarding stocks in the Globe, you can get a technical answer from me. I am not a Insider. Thank you sir,
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