Reliance Industries : Head & Shoulder + EMA + FIB Level
If sell off continue , there is shorting opportunity in RIL. The analysis based on following factors and assumption:
a) Trend : Continuous of sell in the market.
b) EMA : 21, 50 and 100 broken in chart daily frame.
c) MACD : Crossover signal selling opportunity.
d) Fibonacci : Level of 0.618 violated
d) Support & Resistance : If crucial support level broken, enter of short trade.
Entry below Rs 2330 , Stop Loss at EMA Rs 2370 and Target mentioned in chart.
Thanks
a) Trend : Continuous of sell in the market.
b) EMA : 21, 50 and 100 broken in chart daily frame.
c) MACD : Crossover signal selling opportunity.
d) Fibonacci : Level of 0.618 violated
d) Support & Resistance : If crucial support level broken, enter of short trade.
Entry below Rs 2330 , Stop Loss at EMA Rs 2370 and Target mentioned in chart.
Thanks