SHORT- in REKLIANCE !!!#FRIDAY#
#INTRADAY#
@VK2413
NSE:RELIANCE
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INDIAN MARKETS WILL BE OPENING WITH MINIMUM 1% DOWN (GAP DOWN ).
reliance being one of 50 companies, its shares will be affected too.
Today even a short profit booking will also can be seen in RELIANCE !
Targets, trigger-price, stop-loss are provided in chart!
HAPPY TRADING !
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RELIANCE-TIPS
Simple Trade Setup | RELIANCE | 09-02-2022 [INTRADAY]NSE:RELIANCE
Trade Setup for 09-02-2022
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Reliance LongI 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 assumed that the methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these products are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
Reliance sustaining logical levelsReliance, Inspite of Strong Seller Control, $Reliance sustained at logical levels. Current levels are below the median line, but consistent.
Also, RSI levels are not at oversold, we may say it at moderate levels. If consistency remains at pitchfork, We may see the level of 2000 in the near term, and If break the support of 1800 & below. We may see the level of 1650-1625.
Updated: 16 July 8.25 pm.
Disclaimer: Only for learning purpose.
Dealing with 4-chart "extensively research" at Reliance price...
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, and price will T1 as target.
Fibonacci Retracement :
confluence zone 1353 to 1329 target
next target 1250 nearby if sellers will continue.
Wave analysis theory ( unconfirmed ):
Parallel Channel and Project :
T1 -1375 to 1380