Sunday, May 19, 2013

Reliance Industries 20 MAY 2013

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.



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