RELIANCE BUYING THE RANGE BREAK

-results are out for reliance
-need to see how the market reacts
-like discussed before we had executed reliance longs after a close above 2020
-we exited again near 2120
-we have re-entered longs again near 2050
-if market sustains above 2050 and sustains above that we are seeing retest of its inital high of 2120
-enter a long near 2060-2065
-enter a stop below 2020
-initial short-term target is 2120
-positional target can be set to 2150-2175
-note onces this level of 2175(crucial resistance) is taken out then expect reliance to travek to 2230-2280
-wait and watch
-for save side one can use 20-ema as stoploss(near 1995-1990)

Commento:

wait and watch reliance let it come above 2020 or else stay out