As the chart of Reliance Industries determined that the stock is near its Resistance structure and might reverse from these levels. The open minded traders must analyze the option chain of the stock and take the trade accordingly. The levels of structure are already shown in the charts.The stock can be shorted on bounces on preliminary market moves if found any.
RELIANCE
RELIANCE
הערה:
Do not trade according to suggestions if the stock open with gap up above the resistance area.
הערה:
Be cautious here as it is a symmetrical triangle breakout area here in lower time frame. Trial your SL as per risk appetite.
הערה:
Part profit booked @ 1202 levels.
הערה:
All shorts covered
הערה:
Fresh shorts created yesterday @ 1250 as per the chart layout is still giving profits
הערה:
Hope to book profit around 1140-60 optimal zone of support.
הערה:
Shorts covered on Hammer formation around 1168