Trading_hawk

Simple Trade Setup | RELIANCE | 13-08-2021

NSE:RELIANCE   RELIANCE INDS
NSE:RELIANCE

Here is the simple trade setup with levels and actions mentioned on the chart.

I hope it is easy to understand.

Do comment your doubt or suggestion.

All the best.
Trade closed: target reached

Comments

I feel Reliance will touch 2200 as option chain states long building in 2200, and from 2200 it will take reversal as 2300 is short covering

I am in a learning stage, this is just my observation

Any Expert can give their INPUT, glad to take feedback.
Reply
Trading_hawk thakur41666
@thakur41666,

It can be possible.
Reply
vardhan488286123 Trading_hawk
@Trading_hawk, I think if it breaks 2150 level it can reach but we dont know what is going to happen tomorrow.
Reply
2132-2135 parallel resistance
Reply
Trading_hawk vardhan488286123
@vardhan488286123, All the target hit.
Reply
vardhan488286123 Trading_hawk
@Trading_hawk, Yes all hit nice move today. But move was gradual. Anyway great thanks. I have one doubt anyway all stocks are not up and down. how do you select non choppy stocks like this.
Reply
Trading_hawk vardhan488286123
@vardhan488286123,

Simple if some stock keep on moving in some range/consolidating then there it can be ready to break those levels.

Take and example of HDFC and HDFC bank today.
+1 Reply
I made 54 bucks in paper trading. I also followed moving averages with range filter.
Reply
Trading_hawk vardhan488286123
+1 Reply
vardhan488286123 Trading_hawk
@Trading_hawk, first target achieved. today one more time it has tested my patience.
Reply