Reliance on weekly chart following trendline wait for retest and bounce .
DISCLAIMER : This is only for educational purpose only. do your own analysis before buying and selling.
hope you liked it.
keep it simple.
Gail is at the support and
Bollinger Bands are squeezed and the breakdown of the lower band.
Macd is Bearish Crossover
RSI is below 40
So short near the close of the candle for the targets of 84 and 78.
RELIANCE is making a good triangle pattern and moving averages are also showing bearishness in the stock thus Reliance can enter the Bear market once it breaks the triangle.
THE MAJOR support is now 2400 that's gonna be the first target and the second target can be 2200.
SELL : 1529 TO 1373
TARGET : 822 TO 730
Reason For Selling This Script :
In this script it has formed head and shoulder pattern in in monthly time frame. Now price has been broken the neck line and retested the neckline. So we can go for sell side target above mentioned.
Above given levels are based on monthly & weekly time frame . So be patience...
CMP coincides with downside of 200MA, 50% Fibonacci level and current RSI level at previous resistance level. Daily candle in the range of previous support now turned resistance. Short term selling could be seen.
How to buy gold, stocks or cryptocurrencies at a good price in a bear market?
There are usually two trading strategies, it depends on whether the market is in a bullish or bearish phase.
The common sentiment of many people in an uptrend, they think that the market will continue to increase so they can buy at any price, leading to fomo psychology and many people...
Hey M, I am looking to sell GBPAUD below 1.76000 and expecting continuation to the 1.75000 based on fundamental and technical confluence price broke major resistance and tuned to rejection to support and supply creation to continuation of bearish momentum with head and shoulder confirmation thanks.