RELIANCE near all time high breakout

cmp 2565
sl 2340
target 2872 and 3274
reliance is near an all-time high...we are preempting a big breakout above 2630 weekly close for 2 weeks. also we can see rounding bottom too

Comentário:

Usually stock gives a breakout and then comes down as everyone jumps on it and it becomes fake out so to deal with this make a small quantity entry now and then increase quantity after the breakout with 2 weeks close if stock runs then add some but not jump with whole capital.

now reliance has run from 2228 to 2565 so sl will be below 62% of the run on Fibonacci retracement 2340


for target using Fibonacci extension

keep quantity in control
measure risk and reward then only enter the trade....it would take time be patience
wealth generation means longterm patience

Comentário:

reliance up 100 points from recommended levels but in this market breakout are not sustaining sl wait for another day close above 2610 and then bring sl to 2488...sl is big as in volatility dint want to miss big move add more near 2570 or on any dip

Comentário:

Trade ativo:

now trail sl 2630

Trade ativo:

now trail sl 2680

Comentário:

target 2875 achieved

Trade ativo:

now sl 2810

Comentário:

cmp 2999