NSE:RELIANCE1!
The stock looks weak below 1980 and can head lower
--Sell below = 1980
--Target = 1940 | 1900 | 1850
--Stop-loss = 2060
--Expected Profit = ( 7 % )
--Expected Holding = 10-15 days only
All ideas shared are for educational purposes.
Reliance Futures.
Near very Important Support Zone.
Which also is a neckline of H&S
Fresh Weakness only on breakdown.
All good till holding Support. Remain Neutral/Bullish
*Study is based on Futures
Reliance has managed to crossover the trendline in daily charts today. What we have to watch is if it manages to hold because if it does, we might see a bull rally which will take the prices above 2000 levels.
Aggressive or risky traders can buy once RSI manages to cross 50 levels in Intraday charts with a stop loss of 1950.
As per the daily chart and open interest, Reliance future has created doji candles simultaneously where data is also showing higher Volume with lesser OI.
Buy above:1981; Target:2090/2199/2239 SL:1902
Sell Below:1840;1800;1783;1757 SL:1907
This is entirely my view and where I worked in the technical analysis along with quant. So, the data analysis part cannot...
Double Bottom & Breakout from Bearish Trendline
Buy Near 1960-65,
SL-1940,
Target 1 : Near 1982-83,
Target 2 : Near 2003-04,
Final Target:- 2020-25
Educational purpose only
