Reliance Capital : Will history repeat ?

Reliance Capital had given breakout from the consolidation pattern of 55-23 formed over a period of more than 2 years (March-01 to June 03) in early 2000. Volume was good on breakout and after breakout and then it never touched 55 level is in it's life time which means it was an important level for bulls and bears. Resistance becomes support whenever market falls after rally. Technical Indicators have entered into oversold zone.

Only for high risk appetite traders : Buy around 59 and in dip at 54 with stop loss below 50 (swing low) on daily closing basis for target of 90 and 102

Zlecenie aktywne:

Now 62.50. If it doesn't break 60 today, then we'll buy tomorrow at 56-55 with stop loss below 47

Zlecenie aktywne:

We have one disclaimer. We recently checked data on icharts and found that actual range was 42 to 64 which is showing on trading view as 54 to 35. We can't validate accuracy of data.

You can change the strategy and wait for volume reversal close above 64 to confirm that bottom has been formed.

We'll move ahead with our old plan but will buy with stop loss below 42

Transakcja zakończona: osiągnięto poziom stop:

As market is near the day's low. We are exiting our position at cmp 54

Anulowano zlecenie:

we exited our position yesterday and today market made low of 49 and then closed at 68 . We gauged the trend but couldn't capitalise it.

our bad luck :-)