RELIANCE UPSIDE NOT QUANTIFIED, FALL JUSTIFIED
Technically, Reliance is in a downtrend still. Given the 2 news updates on 21st and 22nd April, 2020; the stock has shown Bullish Divergence but the %Delivery against the Traded Quantity stands at 23% which indicates an Unstable Upswing. This also coincides with Harmonics PRZ (not highlighted on Chart) range of 1360-1390
22/04/2020 Closing 1363 Spot. Little Upside Steam Still Left in Reliance upto 1385-1400 range.
Short at 1370-1400 Range with SL as 1440 for Huge Downside Targets
Note: Any views expressed here should not be relied upon as advice or construed as providing recommendations of any kind. Strictly for Educational Purposes. All trading strategies are used at your own risk.
22/04/2020 Closing 1363 Spot. Little Upside Steam Still Left in Reliance upto 1385-1400 range.
Short at 1370-1400 Range with SL as 1440 for Huge Downside Targets
Note: Any views expressed here should not be relied upon as advice or construed as providing recommendations of any kind. Strictly for Educational Purposes. All trading strategies are used at your own risk.
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