Trading_hawk

Simple Trade Setup | Reliance | 12-08-2021

NSE:RELIANCE   RELIANCE INDS
NSE:RELIANCE

Simple Trade Setup

On 15min time frame if you see it made kind of W pattern. And breakout level of it is exactly at 2120 level. Also it is facing resistance from black trendline and breakout of that trendline will give good up move.

Levels and targets are mentioned on the chart. Hope it is easy to understand.

On Daily Time Frame it looks like it made inverted head and shoulder pattern. Please refer below chart.


Hope I made it simple to understand levels and trade setup.

Do comment your doubt or suggestion.

All the best.

My personal view will be more bullish if it breakout 2126 levels.
Trade closed: target reached

Comments

It has breakout trendline with long bullish candle now this 15min candle should take support from that trendline and closed in green above 2122 level to make it bullish.

+1 Reply
Trading_hawk Trading_hawk
Hope you had good trading day
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