RELIANCE TRADING PLAN....NEXT TARGET??RELIANCE have more 100 point up then have a little fall...
make your trade setup depend on this...
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RELIANCE trade ideas
Reliance Stock option Trade opportunity 2500CE 2600CEReliance Stock just took support from the TRENDLINE. From here there is a high possibilities that it can go up. If we look at the option prices, February 2500CE is trading at 14.5 and 2500 is just 5% from current trading price. Now if we look at March 2500CE its trading at a price of 46.
WHAT WE CAN DO
ADD -2LOT February 2500CE@ 14.5 (3625)
1LOT March 2500CE@ 44 (11000)
So the total investment would be 3625+11000= 14625.
In case if Reliance do not give 5% upside momentum by FEBRUARY then by MARCH there will a high probability that it will give up side momentum and if it give upside momentum then our MARCH 2500CE will outperform which will cover the loss of FEBRUYARY 2500CE.
Reliance Swing Trade opportunity Reliance is currently trading at 2384 as of February 9. If you look at the above chart you can see that RELIANCE just took SUPPORT from the TRENDLINE. Reliance can go up till the blue color TRENDLINE and can consolidate there for 2 to 3 days and from there it can give a breakout. If it breaks the blue Trendline then from there it will give a good up side momentum nothing but at least 10%.
NOTE-
Entry- 2350-2425
Stoploss- 2250
1st Target- 2570
2nd Target- 2700
Will keep updating the results.
KEEP FOLLOWING
RELIANCE LONGReliance will try for the third time to break the above trendline.
Good R:R from this point but a little bit risky as well.
Trade safe. Manage risk. Be profitable.
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Disclaimer :- This is just my view. Please analyze charts yourself and then decide to take any trades.
RELIANCE INDUSTRIES Bullish Or bearish ??1. RIL is forming a Bullish triagular pattern and will breakup .
2. Lower level is 2361 and higher is as indicated and may baounce back to base before moving up
3. by apruil may breakout from the pattern till than keep accumulating at lower levels as SIP
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LIKE IF You AGREE
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Relience taking SupportRelience taking Support at major SR level.
Made bullish candlestick in daily TF with good volume (higher than previous days).
Also taking Support at trend line.
Also @200 MA in daily TF.
Made base in smaller tf with Cup and handle pattern.
Also broke resistance trend line while closing session with high volume.
Market sentiments are bearish but expecting reversal in coming days.
A good swing trade can be taken after previous days high in broke with good volume.
Will wait for retest if open gap up.
Reliance triangle breakout reliance was getting support at same level since last week and broke out of the triangle pattern today , interestingly RSI also crossed the trend line expecting an upmove after a consolidation/ retest of the trend line( if overall market is bearish) . seems an opportunity to enter for short term ..
