Reliance - Short idea

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
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....
EN English (IN)
EN English
EN English (UK)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Get Help Ideas Published Followers Following Private Messages Chat Sign Out