Today's trade setup is purely technical analysis on Reliance Industries. Looking at Reliance daily chart we see stock has previously taken support near 700 level, However this support may not give immediate rebound, but consolidate first and then rebound. Chart suggest we are already in consolidation near 700 level, if we switch to weekly chart we see current price action is just taking support at ... [Continue Reading]
Nifty Future May Find Resistance at 4800 level January Series, Short Sell Near 4800 Level
Nifty future is in Downtrend and so traders should only look for selling opportunities on every bounce. On charts we have seen that Nifty future has some resistance near 4800 level, as 23.6% Fibonacci retracement level and 200 Days moving Average coincide near 4800 level. So any pull back towards 4800 level must be taken as opportunity to short selling Nifty future of January series. Targets for ... [Continue Reading]