...Reliance Stock Trend
Reliance is one the significant stock of Nifty 50 Index. The stock is in downtrend from the past two months.
In the recent analysis, I found stock is approaching Critical 1266-1260 BOUNCE area. From there, it can get some momentum to rise.
We should carefully watch the range, as mentioned earlier. Any dip near to it is suitable for building long positions for short-term gains.
The stop-loss for the above view will be at 1260 on the Closing basis.
Any close below 1260 levels will nullify the view, and we can see stock heading towards lower levels.
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Do you know Reliance gave excellent selling opportunity, two weeks before around 1370 levels?
How?? See the chart below; The BLUE marked zone is displaying the area of selling.
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Risk on this trade was less than 1% and gains you are already seeing, yesterday Reliance stock made the low of 1269.
Exciting 100 points gains and that too in front of just 1% Risk. Well, this is nothing for this amazing tool.
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