Due to bad resolution picture might confuse. Image below Recommendation is sell. Based on technical analysis I predict it will go down with and follow 65 Degree down trend. Based on today (17th July) it might appear other way around and most individual trader might like to enter Long position. This is exactly big fish wants. Expect current week Reliance downward swing. Caution: Enter Fresh Short position only post observing 18 July 15 Min trend (look for volume to confirm big fish direction) NSE:RELIANCE
Caution: Reliance does not seem to follow historical or earler technical patterns. This time company fundamental and growth plan is timed perfectly with there announcements like 20th July JIO 501 plan launch, 27th July board meeting. In August as well there are more announcement for new plan/product launch.
Weekly company announcements and agencies/Bank security firm in long position keeping bears away.
Suggest to no enter short or with strict stop loss only. Expect spike in both directions +/-
3 day of Major announcement dates.
All the best!!!
tradesafe27
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Caution: Reliance does not seem to follow historical or earler technical patterns. This time company fundamental and growth plan is timed perfectly with there announcements like 20th July JIO 501 plan launch, 27th July board meeting. In August as well there are more announcement for new plan/product launch.
Weekly company announcements and agencies/Bank security firm in long position keeping bears away.
Suggest to no enter short or with strict stop loss only. Expect spike in both directions +/-
3 day of Major announcement dates.
All the best!!!
tradesafe27
⋅
I should have published and linked relation with NIFTY. Due to No trust vote there will be some jitters. If it will follow previous trend, down trend should be in next 1-2 day. Reason to say is last time it went
1. Up [906 to 1018]
2. Profit booking - Around 30 Rs/ [1018 - 988]
3. Up trend to wipe out trader entering early for short position [988 - 1029] - Around 41 Rs
4. Down trend
Current candles are similar
1. Up [960 to 1105]
2. Profit booking - Around 32 Rs/ [1105 - 1073]
3. Up trend to wipe out trader entering early for short position [1073 - 1115] - Around 42 Rs
4. Prediction --> Down trend
All the best!!!
preejay
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@tradesafe27, after today's last 15 mins sudden rise do you think short can be expected tomorrow?
tradesafe27
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@preejay,
Caution: Reliance does not seem to follow historical or earler technical patterns. This time company fundamental and growth plan is timed perfectly with there announcements like 20th July JIO 501 plan launch, 27th July board meeting. In August as well there are more announcement for new plan/product launch.
Weekly company announcements and agencies/Bank security firm in long position keeping bears away.
Suggest to no enter short or with strict stop loss only. Expect spike in both directions +/-
3 day of Major announcement dates.
All the best!!!
Pratikraj
⋅
Absolutely nice analysis.but personally I don't see these below 1060-1040 level immediately.(these is stock is sensex following,so simultaneously we have to track both)
tradesafe27
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@Pratikraj, Correct. I should have published and linked relation with NIFTY. Due to No trust vote there will be some jitters. If it will follow previous trend down trend should be in next 1-2 day. Reason to say is last time it went
1. Up [906 to 1018]
2. Profit booking - Around 30 Rs/ [1018 - 988]
3. Up trend to wipe out trader entering early for short position [988 - 1029] - Around 41 Rs
4. Down trend
Current candles are similar
1. Up [960 to 1105]
2. Profit booking - Around 32 Rs/ [1105 - 1073]
3. Up trend to wipe out trader entering early for short position [1073 - 1115] - Around 42 Rs
4. Prediction --> Down trend
tradesafe27
⋅
Due to bad resolution picture might confuse. Refer Image below
Weekly company announcements and agencies/Bank security firm in long position keeping bears away.
Suggest to no enter short or with strict stop loss only. Expect spike in both directions +/-
3 day of Major announcement dates.
All the best!!!