RELIANCE READY TO FALL 30 POINTS 1%++Reliance weak below 1269
Current market price 1275
Wait for Active
Sell below 1269
Stoploss 1282........13 points
Target1................1259...10 points
Target2................1239...30 points
Disclaimer - This level only for educational purpose and papertrade Do ur own analysis
Reliance_short
Reliance | Upcoming Possible MovementsCurrently stock trading at support area (multiple time frames) of 1280
A small upside possible from here
But as we can see it has broken a trend line / channel, so any pullback on upside may trigger a fresh selling for the downside strong support area of 1260 (as it also happens to be a flip zone)
1260 can be considered as a strong support area
Any sideways accumulation on that area will possible trigger a strong upside movement
Lower time frame confirmation must be taken before entering at any levels
Reliance elliott wave update for 27jan 2021Reliance 15min chart indicates that decline from 2120 is looks like an impulsive decline and wave (i), (ii) and (iii) is completed at 2035, 2075 and 1932 respectively and wave (iv) and (v) is pending.
1965-1986 is an immediate resistance range for wave (iv) retracement.
reliance may complete wave (iv) in 1965-1986 range and then it may again decline 70-115 points from there to complete wave (v).
And if it trades above 1986 then only bullish.
Reliance Short 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 .
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 Short 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 .
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 Short 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 .
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.