RELIANCE - Breakout Retest??
With crude prices falling and RIL getting a waiver to buy Venezuelan crude..the margins should improve going ahead.
The price has done a breakout retest of its recent short term breakout and closed right at the neckline..
If the stock can bounce from here...then there is a short term trade here..
Long above 3025 with stoploss below 2950 or ideally below 2875.
The stock could retest its old highs of 3200 and a break above that could also be good for the markets in general. On the way up there is a results gap-down that needs filling.
The price has done a breakout retest of its recent short term breakout and closed right at the neckline..
If the stock can bounce from here...then there is a short term trade here..
Long above 3025 with stoploss below 2950 or ideally below 2875.
The stock could retest its old highs of 3200 and a break above that could also be good for the markets in general. On the way up there is a results gap-down that needs filling.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.