Reliance Looking Very Good Ahead of AGM - 1850 Levels Possible
Updated
1. There was lot of accumulation happened in the zone of 1710-1720
2. After that base shifted towards 1735-1740
3. In last week, Reliance played important role to push Nifty higher. So when nifty will consolidate, Reliance too.
4. On Intel's investment it is trading at 1800 levels.
But I still believe this not good zone to enter. In order to touch 1850, it has to make base on 1760-1780. So I will wait for the 1760-1765 levels. This is very good entry point. We may expect this zone in upcoming 2-3 trading sessions. 1750 levels are good to watch because it may falls to 1735 level if it breaks 1750 in intra day. Then it will be a very very good opportunity to swing trade
I am looking at target of 1840-1850 till Reliance AGM which is on 15th July. This is completely event specific trade.
2. After that base shifted towards 1735-1740
3. In last week, Reliance played important role to push Nifty higher. So when nifty will consolidate, Reliance too.
4. On Intel's investment it is trading at 1800 levels.
But I still believe this not good zone to enter. In order to touch 1850, it has to make base on 1760-1780. So I will wait for the 1760-1765 levels. This is very good entry point. We may expect this zone in upcoming 2-3 trading sessions. 1750 levels are good to watch because it may falls to 1735 level if it breaks 1750 in intra day. Then it will be a very very good opportunity to swing trade
I am looking at target of 1840-1850 till Reliance AGM which is on 15th July. This is completely event specific trade.
Comment
Today's move was insane. No one did not expect it will goes beyond 1850 in single day. Even at this levels I am really bullish because AGM will going to play hardly. Lot of developments going on reliance's digital unit. Partnering with Intel & Facebook shows Reliance wants to be next Alphabet in terms of Digitally. And India has very huge potential to lift up Reliance digitally.
Trade active
I am seeing accumulation at 1805 & 1820. This levels are better to re-entry for again 1850. I don't think so it will crack 1800 this week. Trade active
Closely watch the stock. Near of 1850.Trade closed: target reached
1850 high achieved. But it is still looking so much strong from here.Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.