Skip to main content

Relience



Double top pattern formed under daily chart of Reliance.
Buying is not suggested right now as current price is moving very near to 2365 support level.
Need to wait for either strong pull back or support breakdown.
Breakdown below 2365 may take down the price to 2018. If we see any proper breakdown below 2365, Future Sell or Buy PE option is suggested for the target of 2247, 2185 & 2020.
Long position can be taken only above 2570.

Comments

Popular posts from this blog

Bharti Airtel

Bharti Airtel is in complete range bounded between 640 to 780. An inverse Head & Shoulder pattern has found, whose neckline breakout has made on 8th July'22. Fresh long entry is suggested only above 708 with a short term target of 760 & 775, keeping stop loss below 665.

Nifty Trade Setup & Weekly Analysis (11th to 15th July'22)

  Nifty is currently trading at 61.8% Fibonacci resistance level. 16180 is most important resistance level as it is moving from down to up trend. Nifty has ended at 16217 and made a high of 16276. To initiate any Future or CE buy, need to wait for a breakout of 16280. If it's broken, we may see 16450 & 16600 levels on upside. As Nifty is moving exactly it's channel resistance level, may retest 16030 level to continue further upside momentum & this level is also 50% channel support level. This will fill last two day's opening gap as well. How To Trade ? If we see Nifty at 16030 level, wait for upside confirmation & move with Future buy or CE option buy with a target of 16180 & 16400. If we see Nifty is moving above 16280, can go with Future buy or CE option buy with a target of 16400 & 16600. We should not think of Future Sell or Buy PE option until 15890 is broken. Nifty Support & Resistance :: Support-1: 16030  ||  Resistance-1: 16440 Support-2:...