RELIANCE Q2 profits are good... By looking at the OI - PCR at 0.59 i am thinking Investors are making long positions, and we have to wait and watch what will happen in the coming trading sessions.
My expectations are above 1177 it will rally towards 1220 - 1270
Don't be a fool by accumulating NSE:RELIANCE at these levels because of the results, jio, blah blah.......
Remember the level 655, it would come down there some day. Accumulate then only......
Currently, just trade, don't invest.
As on 15th Sep 2018, Reliance is looking bearish for short term and bullish for long term as per support trend line and fibonacci indicator on daily chart.
SHORT TERM BEARISH TARGETS_1240.60/1219.80/1200_STOP LOSS 1273
LONG TERM BULLISH TARGETS_1300/1331/1351_STOP LOSS 1229
Moreover, as per fibonacci levels, reliance will retrace upto 38.2% level i.e. 1150.