Reversal at reliance industries
*The following are the list of things I would like to mention to support the trade plan:
*
Support and resistance accepts the trade plan.
*Relative strength shows an over sold position and intimating a buy position in the stock
*Volumes greater than 10 days average and leads to spinning top
Spinning top
Spinning top is a candlestick pattern with little body and same up & lower tails. Spinning tops generally conveys there will be a trend reversal in the scrip.
*Fib retracement also supports the trade plan at 875 (50% level) and 860 (61.8% level)
Trade Plan
1st Buy - 886
2nd Buy - 862
1st stoploss - 875
2nd stoploss - 860
Target 956
Thank you and have a good trading day
*
Support and resistance accepts the trade plan.
*Relative strength shows an over sold position and intimating a buy position in the stock
*Volumes greater than 10 days average and leads to spinning top
Spinning top
Spinning top is a candlestick pattern with little body and same up & lower tails. Spinning tops generally conveys there will be a trend reversal in the scrip.
*Fib retracement also supports the trade plan at 875 (50% level) and 860 (61.8% level)
Trade Plan
1st Buy - 886
2nd Buy - 862
1st stoploss - 875
2nd stoploss - 860
Target 956
Thank you and have a good trading day
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.