WILL RELIANCE GIVE CHANCE TO INVESTORS FOR ENTRY SEE HOW ?Price action Picture going in Reliance .
1. Reliance has started the process of Re-accumulation by making An evening star pattern circled in green . This is perfect and activated also. Made on strong zone , there fore , got activated. Since it is process of re-accumulation so It should spend time in this process . When this process is activated by smart money then price forms range . Upper range in form of an evening star pattern has already made . Now price will make lower range .
2. The effect of an evening star has seen in fall can be extended further. See I made red zone If this is taken out up side then lower range will be formed and price will move to upper range in blue zone. On the contrary if price fail to take out red zone then it will move to white zone. some times move goes into extension then yellow zone. For extension same condition price should take out white zone .
3. I have made three arrows showing different sentiments . A green means white zone is not taken out then price will move to blue zone and then red will be crossed easily. Pink means price could not take out red zone so will move to white zone. A red dotted shows down move of extension to yellow zone. This is how price will move in coming days in this stock.
4. Use zones as stop loss and time your trade in direction of taken out and not taken out conditions. These zones should also be used as exit points.
5. Investors wait to form lower range of price either white zone or yellow. Then can board bus to long sides.
6. One of my followers requested for this analysis its for you and all those who trade in this stock . For investors who want to become part of reliance. In this manifestation conditions are important to follow. This is complete package in form of setup trade entry , stop loss and exit. Use with conditions you will be benefited. Rest market will decide.
Note . All trading and investing decisions should be taken by consulting your financial advisor.
YOGESH VATS
