Reliance Ind: Chart set up & trading view

12 Nov 2020

Reliance

- The region of 1850-1820 is an important support zone for Reliance
- 1935-1960 is another short term important support levels to watch out for
- 2057 - 2096 is an immediate resistance zone
- positive momentum above 2109 levels


Given the set up the stock can be looked for target of 2450 in medium term
Pattern gets invalidated if weekly close is below 1850

Alternatively one may consider the following strategy

Sell Reliance November expiry
1900 Put option
around 30 - 34 (CMP 30.50)

Lot size 505

Max profit potential Rs 15402/- per lot

Take care & safe trading...!!!

Disclaimer:
- The view expressed here is my personal view
- Use this for educational purpose
- Any decision you take you need to take responsibility for the same
- It's your hard earned money. Treat it wisely
- Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance
- F&O trading involves risk
- Do take proper risk management measures
- Do your own analysis and consult your financial adviser if need be

23 Nov 2020

Nota

Reliance 1900 Put option update

It gave ample opportunity to sell in the range of 30-34

Today's Closing Price 9

Profit of 505*(30.5-9) = Rs 10857.5/- per lot so far

Enjoy
Happy trading...!!!