Reliance-Near Supply Zone
Hi Traders,
As you can see in the Chart Reliance CMP at the end of 22-07-2021 Market is Rs.2,120.70/-. In Positional trading we have a short trade opportunity because the price approaching Supply Zone. We can take the Short position between Rs.2,160-2,170/- and target is Rs.2,090-2,080/-. Take the trade after confirmation candle only (i.e. when price enter into Supply Zone from current position then a Reverse Candle/Red candle should be formed), it will increase the probability of success rate.
Stop loss should be based on your risk appetite.
Reliance Q1 results ( April 2021 to June 2021) are going to be declared on 23rd July so we can expect some huge volatility tomorrow.
Note:
This is not a financial advice, trade at your own risk.
As you can see in the Chart Reliance CMP at the end of 22-07-2021 Market is Rs.2,120.70/-. In Positional trading we have a short trade opportunity because the price approaching Supply Zone. We can take the Short position between Rs.2,160-2,170/- and target is Rs.2,090-2,080/-. Take the trade after confirmation candle only (i.e. when price enter into Supply Zone from current position then a Reverse Candle/Red candle should be formed), it will increase the probability of success rate.
Stop loss should be based on your risk appetite.
Reliance Q1 results ( April 2021 to June 2021) are going to be declared on 23rd July so we can expect some huge volatility tomorrow.
Note:
This is not a financial advice, trade at your own risk.
Note
Hi Traders,As i explained above, supply zone is present between Rs.2,160 to 2,170 but the sellers are dominated the buyers and came in to action little bit earlier. Yesterday high price is Rs.2154.65/- which means trade is activated yesterday.
Since today morning to end also sellers dominated the buyers and as i said above , target is between Rs.2,090 to Rs.2,080/-. Today's low price is Rs.2,078.75/- which means price entered our target range.
So Target hit and trade was closed.
Thank you. Enjoy your trading.
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.
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.