Reliance will fall sharply to 1061.25 and it is seen as strong support.
Since Aramco's listing.
overall stock now in a bear grip , but looking at risk reward on trade side a pullback can be expected thus will trade in two way if it comes at 1370/80 zone will short or if comes at 1290/1300 will accumulate with stop mentioned
Nifty will breakdown if it closes below the 20EMA in 5 mins Chart. Nifty is in a Rising Wedge Pattern. Target is 11335.
FOLLOW TRADE AT YOUR OWN RISK
ONLY XA LEG IS COMPLETED AB=CD LEG IS REMAINING ONLY A TO B IS UNDERWAY WHICH IS CURRENT BLACK LINE BUT TO COMPLETE AB=CD STOCK HAS TO GO UP A LITTLE TO FORM BC LEG THEN CD LEG AS PREDICTED WITH BLUE LINES BUT I HAVE CALCULATED .786 LEVEL OF XA LEG WHICH IS DEFINITE FOR NOW TARGET IS MARKED GOOD LUCK TRADE AT YOUR OWN RISK
Reliance buy signal has been noticed in lower time frame with good momentum.
Spotted an interesting formation on Reliance Industries. It supported the Nifty yesterday and helped it pull up from lower levels. Traders may go long today, following a stop loss of 1428 and targets of 1450-1465. Please carry due diligence, before taking a position.
Sell Reliance at 1495 Stoploss 1506 Target 1461 1433 1385
FOLLOW TRADE AT YOUR OWN RISK
Reliance is moving well within a narrowing channel, Try to buy near 1465, with a stop loss of 1460 and targets of 1489-1511.
Reliance has been giving positive signals on various parameters. Buy for targets exceeding 1470-1495, keep 1430 as stop loss. Options Open Interest positions are looking encouraging, futures' build-up suggest shorts covering. Go long near closing price and keep a stop loss og 1430. 1460-1470-1495 can be expected in near future.