RELIANCE INDUSTRIES - A FIBONACCI PERSPECTIVE
As per Fibonacci study, RELIANCE has closed above critical resistance level and is about the buckle the downtrend which started last week of January 2013.
Chart
Trading Strategy
I would accumulate RELIANCE in the range 830 - 820 with stop loss of 815 on closing basis for targets 880 - 900 in short term positional trade.
Disclaimer:
This is not to be interpreted as a trading recommendation. This is a personal trade shared for educational purpose only. Risk of all trades remains with reader of this blog.
As per Fibonacci study, RELIANCE has closed above critical resistance level and is about the buckle the downtrend which started last week of January 2013.
Chart
Trading Strategy
I would accumulate RELIANCE in the range 830 - 820 with stop loss of 815 on closing basis for targets 880 - 900 in short term positional trade.
Disclaimer:
This is not to be interpreted as a trading recommendation. This is a personal trade shared for educational purpose only. Risk of all trades remains with reader of this blog.
