RELIANCE to Dip via Inverted Cup & Handle ??!!
Zaktualizowano
Chart patterns look good for a short trade in Reliance industries
REASONS
1. RELIANCE has been trading inside an Ascending Channel and currently it is down under its Downswing move inside the channel
2. There is a Monthly breakdown (shown in chart) out of a 5 year old trendline support
Monthly timeframe chart below-
3. In weekly chart shown below, we can clearly witness lower high and lower low formed recently confirming Bearishness!!
4. In daily timeframe, it is trading in the form of an Inverted Cup & Handle and its due for Breakdown!!
5. Target levels mentioned as Horizontal dashed green lines
6. SL can be day candle closing out of the purple slanting trendline
7. Safe Entry can be after 2hr Breakdown out of the Inverted cup & handle pattern.
Let's wait & watch, how it moves!!!
NOTE- Just Sharing my View....not a tip nor advice!!!!
REASONS
1. RELIANCE has been trading inside an Ascending Channel and currently it is down under its Downswing move inside the channel
2. There is a Monthly breakdown (shown in chart) out of a 5 year old trendline support
Monthly timeframe chart below-
3. In weekly chart shown below, we can clearly witness lower high and lower low formed recently confirming Bearishness!!
4. In daily timeframe, it is trading in the form of an Inverted Cup & Handle and its due for Breakdown!!
5. Target levels mentioned as Horizontal dashed green lines
6. SL can be day candle closing out of the purple slanting trendline
7. Safe Entry can be after 2hr Breakdown out of the Inverted cup & handle pattern.
Let's wait & watch, how it moves!!!
NOTE- Just Sharing my View....not a tip nor advice!!!!
Uwaga
will update once breakdown for our entry occurs!!Uwaga
Strong close above 2475 needed to wane off bears!!!Uwaga
setup intact!!! Uwaga
Probability % increasing for short trade!!!Entry after Solid breakdown!!!
Zlecenie aktywne
Uwaga
Zlecenie aktywne
Uwaga
1st Target Done!!!!Zlecenie aktywne
Uwaga
Uwaga
good going till now!!!Uwaga
1HR timeframe Inverted Cup & Handle ??!!Uwaga
Uwaga
breakout on upside!!!still the trend is bearish!!!
Uwaga
Maintain the Strict SL of 2470 levelUwaga
Maintaining the same stop loss 2470 (on day close basis)
Nifty at a juncture and reliance at its juncture(forming a weekly doji)
let's wait & watch!!!
Anulowano zlecenie
Uwaga
Next week move may be the direction decider!!!!
We can expect a Breakout/Breakdown in the next 2- 3 days
I am not yet Bullish on RELIANCE!!!
Uwaga
Is this the Breakdown we expected ??!!!
Uwaga
BREAKDOWN DAY CANDLE LOW TOO TESTED!!!2390 - SUPPORT
Uwaga
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