Relianceanalysis
All you need to know about RELIANCE in 6 minutes 🔥👑 Drop a follow here: @Averoy_Apoorv_Analysis 👑 ----------------------- 🔥🔥 Target: 1000 Followers 🔥🔥
🔥 Common sense used: If you want to know the details of the trade I have posted a picture too of the same analysis with all its parameters defined well in description of that post, do check out that post its linked at the bottom of this post :) just for perfect level and entry, SL number wise :)
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🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
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Reliance - Wait for breakoutReliance Industry seems to have a breakout from a triangle pattern, so give an entry with appropriate Stop loss only after its breakout
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
Reliance View before AGMAfter too many days of consolidation of Range
Trying to step out of that range
Accumulate here for upside Targates of 15 to 20%
And SL should be closing below 2100 twice in a row
Time Frame for this trade is min 4-6 months.
One more reason is as per my thinking is IT is overbought ,Metal not supporting, Banks were neutral to uderperform mode.
Then who is the strongest contender to Hold nifty at higher level... None other than #Reliance
Note- AGM is in same week so trade carefully.
RELIANCE - 2000 OR 1840?Stock is taking support at the lower yellow line and creating higher high higher lows. If it breaks the support line then the next support zone is 1840-1830 else we would see 2000 odd levels.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team