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RELIANCE INDUSTRIES SPON GDR EACH REP 2 ORD SHS 144ARELIANCE INDUSTRIES SPON GDR EACH REP 2 ORD SHS 144ARELIANCE INDUSTRIES SPON GDR EACH REP 2 ORD SHS 144A

RELIANCE INDUSTRIES SPON GDR EACH REP 2 ORD SHS 144A

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Risk Management trade in Reliance.Hi there! Let's talk about this small trade in Reliance. Reliance CMP:- 2524.05 -->From 30th sep to 1st Dec Reliance has formed HH and HL and was in Uptrend . -->Since then Price is in correction and approached 0.618 Fib level of that up wave. What's in my mind? -->If we observe the price action there is an untested demand zone at this 0.618 Fib area. -->If we observe the upper 2 arrows those mentioned candles and and their volumes saying that there was some distribution happened may be reason for this correction -->If we observe the bottom arrow that mentioned red candle with high volume is a support breakdow n and may be the stop losses of previous long trades What's my point? -->Even if price continues to move down I'm expecting a pull back before that and this Idea is actually trading that pull back. -->If my analysis goes wrong and price breaches this demand area I will exit with my stop loss and enter at next demand areas with new confirmations. Entry setup: Enter Long: 2480 Stop Loss : 2425 (70 rupees per share and one can plan their risk accordingly) Managing the trade: If the trade goes in our way *Exit half Quantity @1:1 Risk/Reward Target and Shift to SL to cost *Exit Half of the remaining with 1:1.5 or 1:2 Risk/Reward (by looking at momentum) and trail the SL. *Exit remaining with trailing Stop loss. *SECURING THE TRADE AND PROTECTING THE CAPITAL SHOULD BE YOUR FIRST PRIORITY. *NOT A SUGGESTION VIEWS ARE FOR EDUCATIONAL PURPOSES ***If you like my analysis let me know by giving boost or a comment. I will be updating.
NSE:RELIANCELong
by Mo-Kri
1
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