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!!!!
코멘트:
will update once breakdown for our entry occurs!!
코멘트:
Strong close above 2475 needed to wane off bears!!!
코멘트:
setup intact!!!
코멘트:
Probability % increasing for short trade!!!
Entry after Solid breakdown!!!
Entry after Solid breakdown!!!
액티브 트레이드:
코멘트:
액티브 트레이드
코멘트:
1st Target Done!!!!
액티브 트레이드
코멘트:
코멘트:
good going till now!!!
코멘트:
1HR timeframe Inverted Cup & Handle ??!!
코멘트:
코멘트:
breakout on upside!!!
still the trend is bearish!!!
still the trend is bearish!!!
코멘트:
Maintain the Strict SL of 2470 level
코멘트:
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!!!
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
코멘트:
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!!!
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!!!
코멘트:
Is this the Breakdown we expected ??!!!
Is this the Breakdown we expected ??!!!
코멘트:
BREAKDOWN DAY CANDLE LOW TOO TESTED!!!
2390 - SUPPORT
2390 - SUPPORT
코멘트:
