Don't Just Dial, Take a Call Bearish Rejection at 407, wait for market open to see more rejections and as I said don't just dial, take a call, risk to reward is good on this one. Protect your money and use proper risk management.
About me:- This is your own scammer demo trader who lived in the stone age era & gained immortality by slaying a Ninja Dragon & his unicorn friend about 2.6 million years ago, then the ninja dragon's master challenged me to fight him for his time travelling rainbow coloured shining sword & his rented Ferrari, of course after beating him as well I used his travelling sword along with rented ferrari came down here in the modern age of 2020, sold his ferrari and managed to gather some money for this trading.
Disclaimer:- Don't Listen to me, I'm not a financial advisor
Ril
RIL share on uptrendOn all TF RIL share trading above 50 EMA & very bullish . Also on one hourly time clearly Flag pattern is visible on the charts . So this can be taken for long entry for next level of 1560 . So add the stock in your watch list for next trading session.
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask .kindly follow & like for more educational ideas.
Educational Idea given on RIL candlestic chartsEducational idea given on Candlestick charts pattern on RIL Share. Candle charts are not generating any trading ideas but provide the high probability that the stock move is going as per given direction. Check on daily charts all the conditions are fulfilled when we see the Shooting star candle visible on RIL share will go step by step .
1) After uptrend Shooting star visibility means the probability of stock to move in downtrend now.
2) Keep the Stop Loss on the top wick or just above as shown in image.
3) Keep the target 1:2 at least or as per your reward to risk ratio.
4) Book the profit & exit trade. See the power of shooting star candle.
Already above idea given to our members and now sharing with you for educational purpose. in case any doubt please feel free to ask & start following will share more educational and profitable ideas with all of you.
RELIANCE UPSIDE NOT QUANTIFIED, FALL JUSTIFIEDTechnically, Reliance is in a downtrend still. Given the 2 news updates on 21st and 22nd April, 2020; the stock has shown Bullish Divergence but the %Delivery against the Traded Quantity stands at 23% which indicates an Unstable Upswing. This also coincides with Harmonics PRZ (not highlighted on Chart) range of 1360-1390
22/04/2020 Closing 1363 Spot. Little Upside Steam Still Left in Reliance upto 1385-1400 range.
Short at 1370-1400 Range with SL as 1440 for Huge Downside Targets
Note: Any views expressed here should not be relied upon as advice or construed as providing recommendations of any kind. Strictly for Educational Purposes. All trading strategies are used at your own risk.
Reliance has closed at an interesting spot. Buy with a S.L 1430.Reliance has been giving positive signals on various parameters.
Buy for targets exceeding 1470-1495, keep 1430 as stop loss.
Options Open Interest positions are looking encouraging, futures' build-up suggest shorts covering.
Go long near closing price and keep a stop loss og 1430. 1460-1470-1495 can be expected in near future.