Stock has been making string of higher highs and higher lows.
Reversal from Golden Fibonacci levels of 61.8% in April
Cup and Handle formation break out
Swing : Levels mentioned in the chart
Intraday : Good above 171 if doesn't open gap up
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🔥 Common sense used: If you want to know the details of the trade I have posted a picture too of the same analysis with all its parameters defined well in description of that post, do check out that post its linked at the bottom of this post :) just for perfect...
Reason: RELIANCE is below it 50 Moving Average and 20 Moving Average. It may try test it's 2113 level.
In 2 scenario you can short for a target up to 2078.
1st scenario to short: Reliance test it's 2113 level and fail to give breakout. Stop loss would be 2122.
2nd scenario to short: Reliance can't go above 2102 and fail to give breakout, in this case stop loss...
Script name: TATAMOTORS
Today I made it more clear for you guys and marked the zone from where you should enter into the trade.
Reason: 345 is a major resistance zone for TATAMOTORS and price got rejected from here today. A down ward trend line and price is below 20 MA.
345 to 346 is your Entry zone as marked in the chart. Stop loss would be above 348. RISK TO...
If tomorrow SAIL goes below 130, or it retest 132 range and fail to give breakout, then you can short it from 132 or from 130. Target can be set up to 126.50. Stop loss would be above 132.80 if you short nearby 132 / If you short nearby 130 then stop loss would be 132.20 .
Risk to reward is 1:1 or 1:1.5. Do your position sizing correctly. You can expect to get...
BankNifty has been under pressure for a few days falling continuously. Every rise in BankNifty is meeting with selling pressure at higher levels. But it seems some strong hands have been buying also at lower levels and not letting it fall as it should be.
For Day traders the following are the Gann Intraday Levels as per Gann Angles for Tomorrow 2nd July 2021....
