RELCAPITAL trade ideas
Relcap seems without capitalHello all, this is a new chart of relcap with probable elliott wave count. From this perspective seems like further fall is pending but we are currently going down in wave iii of c of (B) , if you get it good otherwise no issue i am expecting good pull back to test the high of wave (A) again but it might comeout to be a triangle. so let the pattern form and take position accordingly.
For any query please comment it will be highly valuable. Feel free to comment on wave counts. Thank you.
Descending Triangle Breakout - Continuation Pattern - RR 1: 4.3Relcapital Sell Below 221.60
Stop-loss 234
Target 168.40
Risk 5.57% & Reward 24%
RR Ratio 1: 4.30
Another Probability is, it can be turned out into triple bottoms as well but looking at the prolonged decline I personally prefer to sell descending triangle breakout rather buying triple bottoms.
Continuation Pattern
Descending Triangles
In this “flat-bottom” triangle, the bottom trendline is horizontal and the top trendline slopes downward. The pattern illustrates lows occurring at a constant price level, with highs moving constantly lower.
RELCAPITAL LONG TRADE SETUPLooks like a good setup to open a positional long with green lines as targets.
do share your opinion in the comments.
SHORT RELCAPLevels mention. SL can be high as the stock will be subjected to volatility due to result tomorrow.
Double inside bar RELIANCECAPITALLong at PDH if, PDH is broken with SL at PDL
Short at PDL if, PDL is broken with SL at PDH
PDH - 246.5
PDL - 241.4
Rel Capital Looks bullishReliance Capital (CMP 262) has given Cup n Handle breakout
Target 265/275/280+
Sl 250
Holding Period 2-3 days
relcapital long set up i personally do not trade in such companies but its just when i came across the charts , i thought its a good chance to get easy 3/5% intraday trade ! , dual bottom followed with an rsi divergence ...
Relcap Round Bottom or Higher Highlong if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB str
Relcap Compression Tradelong if it breaks the high of the previous day with a stop loss at the previous day's low.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.
#RELCAPITAL CASH : GOOD SELL ON RISE AT 426 OR BELOW 410#RELCAPITAL CASH
16 SEPT 2018
LOOKS WEAK OR SELL ON RALLIES TILL 426-430 SL 440
OR
SELL BELOW 410 SL 422
TGT 392-395/372
CMP 418
#RELCAPITAL CASH : STRONG SUPPORT @ 390RELCAPITAL CASH
18 SEPT 2018
(POSITIONAL SELL GIVEN ON 16 SEPT BELOW 410
REACHED 390-392 TARGET)
NEXT STRONG SUPPORT @ 390
STRONG MAKE OR BREAK LEVEL IS 390
CMP 392
