NeeteshJain

Rpower Breaking Crucial Support

Short
NSE:RPOWER   RELIANCE POWER
It is been observed on daily and weekly chart that the price action breaks and closes below 40 price levels which was acting as crucial support levels. Now, it shall further move down to the next support levels at around 35-33 levels with few weeks. Regards

Target: 35
Stoploss: 41
Risk Reward : 1:2
Trade active
Trade active
Comment: It may further go up as per today's close, Regards


In such situation, either a person should hold shorts or buy a CE option to hedge. Just an educational tip. Regards
Trade closed: stop reached: Stops reached but still it will good to short it around 42-42.50 levels. Regards

Comments

sir is the sl valid on closing basis??
+1 Reply
SaurabhSrivastava28 SaurabhSrivastava28
@SaurabhSrivastava28, i have entered the trade at 40.15
Reply
NeeteshJain SaurabhSrivastava28
@SaurabhSrivastava28, Yes, you're correct. Regards
Reply

thats not good for me :)
+1 Reply