Reliance after a big fall, is stuck in a falling price channel . Good move on either side (short or long) could be achieved after the breakout of this price channel . Entry should be initiated if reliance gives closing of 15 mins candle breaking the channel . No entry should be taken if reliance takes support and comes back into the channel without giving closing outside the channel.
The targets for upside and downside are given in the chart and trailling stoploss should be used as we achieve our targets. This is an intraday trade and not a swing trade .
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Guys reliance hit one of our downside targets and then took support from there . The markets also went bullish and so we could only achieve one downside target in reliance.
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Hi guys as you can see that reliance has given breakout from our falling channel today and aldready hit two of our upside targets !!
@cvijay56, If you are asking about Reliance, then reliance hit all three of our upside targets today and now has an important resistance at 2452. If it can give closing above that, then Reliance will move towards its all time high of about 2480 and possibly even beyond that.