Reliance : A Possible Breakdown or a tough breakout
Reliance is in a range where it is in distribution or accumulation nobody knows. But there are 2 possibilites
1. Breakout : If it goes above 1500 with volume then buy it with sl 1440 target 1630-40 (Tough Possibilities)
2. Breakdown : If it goes down 1420 with volume then sell it with sl 1480 target 1270-80
1. Breakout : If it goes above 1500 with volume then buy it with sl 1440 target 1630-40 (Tough Possibilities)
2. Breakdown : If it goes down 1420 with volume then sell it with sl 1480 target 1270-80
Commentaire:
Near resistance volume is drying it means a big move is on the way. Put your "STOPLOSS" order very tight for short 1500 for long 1440.