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Reliance Industries

Discussion in 'Technical Analysis' started by vijayshankarreddy, Feb 17, 2013.

  1. vijayshankarreddy

    vijayshankarreddy New Member

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    i want to know support for reliance.it think it is 760.can you please tell mee
     
    vijayshankarreddy, Feb 17, 2013
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  2. shabbir

    shabbir Administrator Staff Member

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    Please do not jump into any other thread with your query and it can go unread as well. I have moved your query into separate thread.

    Coming back to your question of support of Reliance I see 3 support levels 840, 820 and then 760
     
    shabbir, Feb 18, 2013
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  3. chequesuraj

    chequesuraj Member

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    Reliance can reach to 900???

    Dear Shabbir,

    As per Reliance Chart, W pattern is in place but today's candle spike with volume has gap up between previous candle close...is that to be cautious?

    Adding to this SMA is crossing EMA for uptrend..pls confirm

    Other wise can this be a good buy @ CMP 860 for target above 880 with stop loss of 840?

    Today I have taken position at 860 CE...

    Pls need your views on this...

    PS: Today's candle is in RED:confused:



    Thanks
    Suraj
     

    Attached Files:

    chequesuraj, Jun 28, 2013
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  4. krasquinha

    krasquinha Member

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    Dont worry, i think it will move up .... but watch for nifty movement as well.
     
    krasquinha, Jun 28, 2013
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  5. shabbir

    shabbir Administrator Staff Member

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    This stock has not done anything for almost an elongated time as well and so it should be a good buy as of now.
     
    shabbir, Jun 28, 2013
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  6. chequesuraj

    chequesuraj Member

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    Thanks Kiran, Shabbir for your views...

    Currently its at 885 now...should it be right to exit touching 900 or shd I wait 900+

    as I have mentioned earlier...I have 860 call option in this script for 10 days view...


    Thanks
    Suraj
     
    chequesuraj, Jul 1, 2013
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  7. shabbir

    shabbir Administrator Staff Member

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    Partial profits will be better choice.
     
    shabbir, Jul 1, 2013
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  8. shankarpatil

    shankarpatil New Member

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    Support Level Calculation

    How did you calculate the support level of 840, 820 and then 760?
     
    shankarpatil, Jul 2, 2013
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  9. chequesuraj

    chequesuraj Member

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    Update on Reliance Call Option

    Hello Shabbir,

    This update is purely to guide the fellow investors/traders not for promoting huge gain strategy from option trade...pls study the ebook points by shabbir...I am putting this update for the following two points...

    1. Don't wait till or after the result day of the particular stock
    2. Don't ever trust the channel's so called market GURU's...

    Reliance 860 Call option...I have enter it in between break out at 855 level and kept stop loss of about 830 for the target of 920+

    I squared off my position on Friday as the results are about to be declared by the end of the day on Friday.

    Regarding the market analysis about the Reliance results on weekend on all channels...about Reliance touching 980 or 1000+ on Monday opening...

    it's actually affected the profit booking stage today...as you might have seen if script is strong it will reflect on charts and price action or it will go to sideways after hitting resistance level as it in Reliance it's I guess 920+ or 940 level...

    Credit goes to Shabbir for all his experience and efforts for all those tips mentioned in the ebook... Party:

    Regard,
    Suraj
     
    chequesuraj, Jul 22, 2013
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  10. shabbir

    shabbir Administrator Staff Member

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    Awesome :D
     
    shabbir, Jul 22, 2013
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