All the findings are as shown on the chart.
Let me know in the comments section if there is anything that you see differently.
This is my view and for educational purpose only.
We can short reliance for some easy money.
Reasons behind it
1. a negative breakout of a rising wedge on 1hr time frame.
2. Bearish engulfing on 1day time frame.
Fundamental reason.
1. the biggest reason behind the trade is that reliance always falls after its results you could even backtest it.
Hello friends,
Here is RELIANCE INDUSTRIES short set up as per Harmonic Pattern SHORT Reliance Below 2739 with sl of 2912 closing basis for the Target of 2567 and 2247.
Happy Trading
Thank you.
Reliance made all time high breakout on 21 Apr gaining over 60 points during the day. RIL helped a lot to lift nifty on the day.
on April 22 though RIL opened with a small gap down giving indication that this is the breakout level retest. This gave concern, as all time breakout should not have a intraday retest. Retest should have happened after 2-3 days after...
NSE:RELIANCE
#RELIANCE trading in parallel channel and short term levels marked for practice.
Ping me to know for mid to long term levels if any one intrested.
Happy LEarning !!
