#FRIDAY#
#INTRADAY#
@VK2413
NSE:RELIANCE
{
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 !
}
Fallow @VK2413 ,like👍SHARE❤️,✌️
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...
Reliance 1980 is a support zone...bearish trading below daily 200 ma...target 1930/1900/1840...We can have a short bounce back till 2016/2030/2055/2070...Unless Sustains above 2090 no positional buying.
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...
Reliance, 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...
Support 1483/1412, for targets 1693/1758
-------------------------------------------------
Support exists at 1527 while connecting 1-W & 2-W trendline .
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,...
![RELIANCE: Simple Trade Setup | RELIANCE | 09-02-2022 [INTRADAY]](https://s3.tradingview.com/q/qUSa25eE_mid.png "Simple Trade Setup | RELIANCE | 09-02-2022 [INTRADAY]")
