RELIANCE CAP SEEMS TO BE FOLLOWING A C&H PATTERN ALONG THE TREND LINE. AND, IT APPEARS THAT ONCE THE BREAK OUT OF THE TREND LINE HAPPENS, THEN A REVERSAL UP TO 120+ CAN BE EXPECTED.
WAIT AND WATCH!!
Long 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...
Long 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...
RELCAPITAL (Reliance Capital Limited) BUY ABOVE 75. RELCAPITAL (Reliance Capital Limited) BUY ABOVE 75. RELCAPITAL skewed double bottom and standing in trend line and if trend line broken then BUY can be initiated at around 75
AS PER ICHIMOKU NUMBER THEORY, THERE MIGHT BE A REVERSAL IN RELIANCE CAPITAL SHARE PRICE.
BUT, ON THE CHART IT IS BEARISH EVERY WHERE.
BE CAREFUL BEFORE YOU SHORT FOR THE NEXT 2 DAYS.
WHAT COULD BE THE REASON? I DO NOT KNOW [ IF ANY ONE IS AWARE PLEASE COMMENT.
Reliance Capital had given breakout from the consolidation pattern of 55-23 formed over a period of more than 2 years (March-01 to June 03) in early 2000. Volume was good on breakout and after breakout and then it never touched 55 level is in it's life time which means it was an important level for bulls and bears. Resistance becomes support whenever market falls...
