After a great ending in DOW JONES , Indian markets should also be positive for some days.
If you have money and also want to play safe.
-1x 28JUL2022 2300PE - ₹ 20.35
+1x 28JUL2022 2240PE - ₹ 9.95
WINNING PROBABILITY-76%
ROI-7.42%
Margin(1 LOT)- ₹ 35023
Looking primed for a leg down into the untapped Monthly Demand Zone.
We have a MSB and SFP on monthly at ATH rejected.
This could become one of the catalyst that drags down Nifty50 with it to 16k as this is the biggest company in the Index and country.
Not financial advice, DYOR
Good Luck!
Watchout!
There are 2 possibilites in Reliance Stock (as shown in chart)
Possibilty 1 : Can Take support of 50EMA
Possibility 2 : Can take support 2330 levels
Trade with proper sl, I personally think it will take support of 50EMA and can give reversal, Lets see how it goes
Trade on your own risk.
Happy Trading!!
Reliance recently rallied heavily and needed a correction . All time high has been broken and reliance is managing to sustain above all time high with also a harmonic bullish bat pattern of a minor swing and also important fib numbers of different swings . Anything above 2360 levels in RIL is a reversal.
In a downward sloping channel.
at 1550 , a very strong resistance.
Last 3 months trading in a very constricted band of 1350 - 1550.
Be careful if it trades below 1300.
One hand loses another hand gains. ;)
Just days before, traders had a wonderful breakout to catch at reliance. Those who caught the breakout could easily get above 5% return.
but those who dint get the break, reliance is giving another chance for traders act on. keep RELIANCE in your watchlist for 10 Aug 2020.
Beware : Please keep in mind and stay away from False Breakout Traps.
Also this is not any...
