The price has made a triple top reversal pattern, which will take the price down to levels of 216. The strategy may fail and hence a stop loss at the previous high created in the trend.
Short at CMP.
SL 233.5
T1: 221.35
T2: 216
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As we saw yesterday Reliance took a dip to 1564 region which was Target 1 and bounced exactly form support to break the previous ATH of 1620 and made a new high of 1626.70, which brings back reliance in a bullish trend. As on 16/06/2020 if reliance opens in positive and holds up to previous days gains, Buy Reliance above 1627 with SL of 1623 with a long term...
Amrutanjan @ 339 || 29-May-20 || 01-HR
- Is it preparing for an upward level ?
- Let see the price action - BUY once it crosses 347
- Only caution is MACD - so watchout how MACDline functions till the time breakout comes.
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Cup and Handle formation in Tatamotors
If Sustain above 96.3, one can long for a target of 102.7/108
Disclaimer: Still learning and these are my views, do your own analysis before trading
