balaji_damo
Short

Reliance - Short idea

NSE:RELIANCE   RELIANCE INDS
Reliance is facing a strong resistance with a triple top at 960 levels and today's doji is confirming the same.

But it is fundamentally good stock with strong support at 920.

There is a short trade at 950 with SL at 960 for T - 940. This has R:R 1:1.

Alternatively one can go short on 1000 CE at 7.5 and 900 PE at 4.5 together for 12000 INR in 15 days.

Keep strict SL as breaching 960 or 920 will be fireworks on price action.
Trade closed: target reached: options trade on
reliance earnings can improve this quarter
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balaji_damo JamesPeter
@JamesPeter, yes, any correction on this stock is a good buying opportunity for long term investors as it is fundamentally good stock....
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