Chart patterns look good for a short trade in Reliance industries
REASONS
1. RELIANCE has been trading inside an Ascending Channel and currently it is down under its Downswing move inside the channel
2. There is a Monthly breakdown (shown in chart) out of a 5 year old trendline support
Monthly timeframe chart below-
3. In weekly chart shown below, we can clearly witness lower high and lower low formed recently confirming Bearishness!!
4. In daily timeframe, it is trading in the form of an Inverted Cup & Handle and its due for Breakdown!!
5. Target levels mentioned as Horizontal dashed green lines
6. SL can be day candle closing out of the purple slanting trendline
7. Safe Entry can be after 2hr Breakdown out of the Inverted cup & handle pattern.
Let's wait & watch, how it moves!!!
NOTE- Just Sharing my View....not a tip nor advice!!!!
REASONS
1. RELIANCE has been trading inside an Ascending Channel and currently it is down under its Downswing move inside the channel
2. There is a Monthly breakdown (shown in chart) out of a 5 year old trendline support
Monthly timeframe chart below-
3. In weekly chart shown below, we can clearly witness lower high and lower low formed recently confirming Bearishness!!
4. In daily timeframe, it is trading in the form of an Inverted Cup & Handle and its due for Breakdown!!
5. Target levels mentioned as Horizontal dashed green lines
6. SL can be day candle closing out of the purple slanting trendline
7. Safe Entry can be after 2hr Breakdown out of the Inverted cup & handle pattern.
Let's wait & watch, how it moves!!!
NOTE- Just Sharing my View....not a tip nor advice!!!!
노트
will update once breakdown for our entry occurs!!노트
Strong close above 2475 needed to wane off bears!!!노트
setup intact!!! 노트
Probability % increasing for short trade!!!Entry after Solid breakdown!!!
액티브 트레이드
노트
액티브 트레이드
노트
1st Target Done!!!!액티브 트레이드
노트
노트
good going till now!!!노트
1HR timeframe Inverted Cup & Handle ??!!노트
노트
breakout on upside!!!still the trend is bearish!!!
노트
Maintain the Strict SL of 2470 level노트
Maintaining the same stop loss 2470 (on day close basis)
Nifty at a juncture and reliance at its juncture(forming a weekly doji)
let's wait & watch!!!
주문취소됨
노트
Next week move may be the direction decider!!!!
We can expect a Breakout/Breakdown in the next 2- 3 days
I am not yet Bullish on RELIANCE!!!
노트
Is this the Breakdown we expected ??!!!
노트
BREAKDOWN DAY CANDLE LOW TOO TESTED!!!2390 - SUPPORT
노트
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면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.