Short Term downtrend looks prominent on charts. On 21.06.2018 RELIANCE managed to close (1031.95) UNTOUCHED above Upper Bollinger Band (10,1) which indicates it is overbought. Close below that candle, 1023, would be great shorting opportunity with a STOP LOSS at 1036 (high on that candle).
On 22.06.2018, NIFTY gained close to 81 points and there was decline of 1.88% on RELIANCE along with HIGHER THAN AVERAGE VOLUME
Along with this strategy, it also looks like CMP 1012.50 is near UPPER BAND of CHANNEL and we should see some retracement on the downside.
Trade closed: target reached
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Book profit in Reliance, SOLD at 1010 and covered 943. Profit of ₹67 (6.5%).