Reliance - (Wave Analysis) Catching The Tops @ 2375 - What Next?

29 ott 2020

Disclaimer
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All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
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As per last idea published @ 10th Sep2020 - Reliance was suggested that it could top out above 2300 or the wave after triangle shall be the last wave upside.

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16th Sep2020 - Reliance topped at 2375

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What Next?
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• Impulsive move from the tops @2375 Highs
  Stock made low @ 1990
  Strong Support Zone- 1990-2000
  Shall look for bounce back & relief rally
  Stock crossing above 2030 can move to 2060 / strictly above 2060 for 2095 or buy as close as possible to 2000 level. No buying if stock falls below 2000- next key level where stock can have trouble
  
  
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  Don't Miss The Last Few Ideas
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  Last Reliance Idea @ 10th Sep2020
  
  Quick Follow up done for Reliance in last video idea of Auropharma
  

30 ott 2020

Trade attivo

10:05 Hrs / 30th Oct2020

Last Price- 2042

Need to book partial target at 2045 as looks tough in present scenario so book whatever profit you get as Intraday trader. Thanks

30 ott 2020

Trade attivo

10:26 Hrs / 30th Oct2020

Last Price- 2038

Fall started - so I suggested book partial profits close to 2045 in last update above

Stock in middle of choppy move. Most likely has negative bias & downside objective if it fails to cross 2050 day high so far.

Upside is limited which was 2060 - so, I even suggested - any further buy strictly should be above 2060 levels

It might spend whole day in range move between 2000 to 2050 - later has strong possibility for puke to 1975 levels downside/ below 1975 for 1900 levels

Upside limited & can be seen only if crosses above 2050 -key level

30 ott 2020

Trade attivo

14:01 Hrs / 30th Oct2020

Last Price - 2035

Reliance gave 2nd chance of selling right at the top @ 2050 highs - did you sell at day high ?

31 ott 2020

Trade attivo

11:43 Hrs / 31st Oct2020

Last Close- 2054

2050 -2060 is a no trade zone & you should be careful as failing to hold the levels of 2060 on Monday session - 2nd Nov2020

Stock has great chances of falling to 1990-2000 support zone & falling below can slip to 1975 & close by levels to have next support

2 nov 2020

Trade chiuso: obiettivo raggiunto

18:02 Hrs / 2nd Nov2020

Suggested on 31st Oct2020 in last update above - "Trader's have to be careful as failing to hold the levels of 2060 on Monday session - 2nd Nov2020 "- Stock has great chances of falling

What happened - Heavyweight RIL slipped to the target zone 1990-2000 & going below 1990 - it was a crazy fall

Why it happened ?

2060 to 1859