Broke out the Fla and a swift gain. If you have not booked out, may hold for some more gain. SL please. Trading is a high risk high gain job. Have trust in patterns.
Price rose sharply (that is how a Flag Pole is made and this is the first criteria for identifying a Regular Flag Pattern) from lows on the back of a Positive Divergence and now a Bullish Flag is in the making. Price is trying to breakout. Go long keeping an SL at the bottom of the Flag. If fortune strikes price may rise towards 200 DMA. But we avoid being greedy....
Reliance capital looks attractive to accumulate at CMP, Considering current Chart pattern it can be a good price point to add some quantity at current price.
RELCAP HAS FORMED A TREND CONTINUATION SETUP. ENTRY IS VERY FAR FROM CURRENT PLACE BUT ANYDAY YOU CAN A CANDLE CLOSE ABOVE THIS BREAKOUT LINE. BUY AND HOLD WITH PATIENCE FOR FRUITFUL RETURNS.
RELCAP is presently at its support level, and todays candle closed green and ended above the high of the previous day candle.
One can go long with 2arget 1 till 38.2% retracement and Target 2 till 61.8% retracement with stoploss at the low of the previous day candle.
For theta decay one can short RELCAP OCT 540PE at 4.15 with lot size of 1500 for a potential...
