Reliance Capital had given breakout from the consolidation pattern of 55-23 formed over a period of more than 2 years (March-01 to June 03) in early 2000. Volume was good on breakout and after breakout and then it never touched 55 level is in it's life time which means it was an important level for bulls and bears. Resistance becomes support whenever market falls...
Reliance Capital is trading close to log scale trendline support of 90. Trader can wait and see whether counter take support of 90 and then bounce. If it rebounds after touching 90 and gives close above 100 then investor can buy with stop loss below 87 for target of 140-170-200 level.
Relcapital Sell Below 221.60
Stop-loss 234
Target 168.40
Risk 5.57% & Reward 24%
RR Ratio 1: 4.30
Another Probability is, it can be turned out into triple bottoms as well but looking at the prolonged decline I personally prefer to sell descending triangle breakout rather buying triple bottoms.
Continuation Pattern
Descending Triangles
In this “flat-bottom”...
The HA candles have broken the resistance line and supertrend has shown buy signal.
HA candles have crossed 20 ema which is a positive sign. MACD line has crossed above signal line and is going towards zero line.
New candle formed above 20 ema. one can go for long short term trade.
Based on my "xRAM-Creator" predictive trading methodologies, its going to be a RED candle on 20-Jun-2018 for RELCAPITAL
Sell Below(5Min candle close): 409.5 for targets -
T1: 406.4
T2: 404.6
T3: 402.7
SL: 412.8
Note: These calls are based on my own analysis. It may or may not work well for you.So please carefully consider whether it is suitable for you and...
