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Short RIL

Discussion in 'Technical Analysis' started by jignesh_acharya, Apr 1, 2016.

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  1. jignesh_acharya

    jignesh_acharya Active Member

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    I am planning to short RIL ,please advise
     

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    jignesh_acharya, Apr 1, 2016
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  2. shabbir

    shabbir Administrator Staff Member

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    Not a bad ploy but can you share your stops and targets as well.
     
    shabbir, Apr 1, 2016
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  3. jignesh_acharya

    jignesh_acharya Active Member

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    SL-1060 tgt 940
     
    jignesh_acharya, Apr 2, 2016
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  4. shabbir

    shabbir Administrator Staff Member

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    940 looks tough as 1000 is a good psychological support which I don't think will crack unless market sentiments changes.
     
    shabbir, Apr 5, 2016
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  5. kishorevnvv

    kishorevnvv New Member

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    Reliance chart above (SHORT RIL)

    I am on learning stage. Would you kindly enlighten me on the following ?

    As per you, psychological support is 1000. I was thinking that support would be 1020 or 1016 (previous lows just before 1.4.16).

    It would be of immense help if you could give me your useful link on support and resistance.

    Regards.

    V N V V Kishore
     
    kishorevnvv, Apr 6, 2016
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  6. shabbir

    shabbir Administrator Staff Member

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    1020, 1016 and 1000 are different numbers but when it comes to patterns, they are all the same.

    Same can be said about L&T which had good bounce from 1016 but then it is assumed 1000 was good support.

    Read - http://shabbir.in/calculate-support-resistance/ for support and resistance but also eBook should be of help to find support and resistance
     
    shabbir, Apr 7, 2016
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