TradingView
NeeteshJain
Aug 17, 2017 9:38 AM

Reliance - Trending Down Short

BSE:RELIANCE1D
RELIANCE INDUSTRIES LTD.BSE

Description

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It is been observed on the daily chart that the price action is forming lower lows and indicating further weakness ahead.

Target 1- 1540

Target 2- 1510

SL - 1600

Trade active

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Trade active

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Comment

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Chart Update:


In the above hourly chart, until the price action closes above 1590-1600 levels, the stock is in the down trend and shall dip further down. Keep sitting tight. Thanks

Trade active

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Trade active

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Trade active

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Trade closed: target reached

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Target 1 reached and looking further weak ahead.

Trade closed manually

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Trend AnalysisTechnical IndicatorsRELIANCEtrendingdown
Comments
rajat1291
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Should reliance be rollovered to september series ?
NeeteshJain
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@rajat1291, Yes, until it stays below 1600 levels.
rajat1291
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@NeeteshJain, thank you sir
SinghSwat
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Thanks for the details but looking at the F&O activity it doesn't look an ideal candidate for short for the current month(Sep)
NeeteshJain
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@SinghSwat, Sir, this was updated last month, now the trend has changed. Thanks
SinghSwat
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@NeeteshJain, Cheers!
Parasuram
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you are leaving some money on the table....
NeeteshJain
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@Parasuram, You're correct Sir, I'm still holding it for Target 2.
Parasuram
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@NeeteshJain, ok! since i read trade closed .. i said that.. cheers!!
ajit_bobs
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Roger that Capt... !!! Thanks for views !!!
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