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RLI trade ideas

Reliance: Support Resistance and trading strategyReliance The Chart set up The stock has been sideways for the last 8-9 months. The stock has fallen approximately 9% from the top in the month of December so far. Important levels on the downside which has the potential to provide support S1 - 2467-2485 S2 - 2405-2420 Important levels on the upside which has the potential to act as resistance R1 - 2565-2588 R2 - 2632-2680 _____________________________________________________________________________________________________ My Trading strategy Given the set up, my trading strategy for Reliance: Short Strangle strategy for January series Sell January 2023 expiry 2640 Call option & 2400 Put option Net incoming 52 points _____________________________________________________________________________________________________ Gain potential and understanding risk profile Max profit potential of Rs 13700 per strategy lot, if Jan expiry day close is anywhere between 2400-2640 ( roughly 12% ROI on margin requirement) Loss in strategy, if Reliance closing is above 2692 or below 2348 on 25th Jan 2023. _____________________________________________________________________________________________________ My Risk Management levels Review points for managing risk 2467 / 2420 on the downside 2580/ 2612 on the upside These review points are based on support and resistance levels identified in chart analysis and accordingly trading strategy has been curated which should give ample time and scope to adjust / exit in case view of rangebound movement is getting invalidated. Apart from these, I would be also monitoring Crude oil price movement. _____________________________________________________________________________________________________ Hope the analysis and explanation of trading strategy helps you plan and manage your trade. Do let me know if you find the analysis and insights helpful. To trade with me, Do Like and Follow for getting more trading ideas like these...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - I have been wrong in the past and can be wrong again in future too - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:RELIANCE
by indiamarketoutlook
3
Reliance can move upside(trend)Hi to all this is my fourth prediction. i found several patterns in reliance chart. but the cup and handle seems to be valid one. reliance broken from handle, but from opposite side view from the recent fall(2855) there is retrace upto (2753)78.6% so i suggest 1.) using 2565 as stop loss and take entry for 3075. or 2.) using 2701.03 as stop loss and take entry after 2755.40 (opening & closing by day candle ) towards the target 3075. (stratergy :use roll over for every month future expiry . ) i am open to any suggestion.please post your suggestion or comments. please analyzefrom your end to take entry.
NSE:RELIANCELong
by comprehensiveA35184
3
16th DEC Reliance Industries Ltd. Buy or SaleCMP: 2578 Reliance Industries Ltd is India`s largest private sector enterprise, with businesses in the energy and materials value chain.The company works under different business segments:Exploration and Production,Petroleum Refining and Marketing,Petrochemicals,Textiles and Retail. Reliance currant given breck out Strong Support Sale Below 2585 Must See Bearish Candle. Target : 2560-2540 SL: 2595 If Learn How to Analysis and Candle reading follow us. also give your feedback.
NSE:RELIANCEShort
by vahabsheikh
1