Reliance Capital - Targeting 470 (Buy)

After today's strong breakout at 420 levels and managing to close above that levels provide us a strong bullish signal on its price action. I believe now the price action will move towards the next resistance levels in next few weeks.

It is a good time to enter with the reward risk ratio of 1:3

Target 1: 452
Target 2: 470
SL 1: 400
will buy a call tomorrow, just curious, cuz your analysis have a high hit ratio, how much are you making a month? :)
+1 Reply
I have a small account and I have habit of learning each day, which gave me confidence to take high hit ratio trades. I would also advise you to never believe your P&L to tell your growth in markets, it is your experience and learning that will give your a successful and consistent trading experience.
la4440 NeeteshJain
well said, thank you :) how does adani transmission look today?
It is been trading in a range since its inception, and now it is close to its all time high levels, I believe it will be wise to buy if the price action of this month closes above 42 levels, in order to confirm the uptrend. Overall, It looks bullish
la4440 NeeteshJain
not something i wanted to hear! lol
i have shorted for intraday play , 38.80, exit ?
If it is possible to carry forward this position to next day then you might see the stock coming back to 39.10 levels. I said this because It has opened a Big Gap Up today, and it is highly possible that it may come down tomorrow and touch 39.10 levels to fill the gap and move up again. It is sure that the price action is very bullish, incase it closes above 42 levels today then do exit your position today itself as you may see a gap up tomorrow as well (remind you only if it closes above 42)
la4440 NeeteshJain
got it, thank you sir :) cheers
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