Reliance in moving in a channel since, Nov 2016 & now near lower channel line
Above 50 EMA
facing support near 1900 -1800 (support zone)
With a SL of 1890 on weekly close basis.
We can set a target 1 of 2321
Target 2 - 2707 (Trailing SL)
Target 3 - 3249 (Trailing SL)
I hope you can now see how Reliance represents an excellent low risk profit entry setup allowing you to trade in the market. Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Thank You
Disclaimer: It should not be...
Hi Traders/Investors,
1. On may 30,2020 I posted my first analysis on this stock till now even a single week missed my targets. Providing all statements chronologically as proof of precision with figures and dates for your consideration. In point no.1 of the same date, I clearly mentioned " Upper range in the form of an evening star...
Support 1483/1412, for targets 1693/1758
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Support exists at 1527 while connecting 1-W & 2-W trendline .
It is not yet conformed that the stock will move up or go down, wait till it give any confirmation.
A head and shoulders pattern is a chart formation with baseline with three peaks, the outside two are close in height and the middle is highest.
In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a...
Volume vs. Price Action:
Points to be focus on:
Gap (run away type)
Invalid Doji (from the left to right Doji is invalid because of low volume compare to previous candle)
sequence of tails (sign of existence negativeness)
Interruption began to push price upward.
Red Alert : sellers will take action on the Red Alert zone 1542 to 1490,...
