Stopped Out
Wrong count.
Reliance wants to go down to around 785.
But path is likely to be first up move and then to the target zone. But it may also straight head there.
If it prefers 1st option the chart below has visual guide of probable moves but this share is used at times to manage NIFTY levels so be careful with your stops. Need very wide stops. Options data suggests very strong bear presence at 820 (55Cr) so any move near that will meet with selling pressure.
Wrong count.
Reliance wants to go down to around 785.
But path is likely to be first up move and then to the target zone. But it may also straight head there.
If it prefers 1st option the chart below has visual guide of probable moves but this share is used at times to manage NIFTY levels so be careful with your stops. Need very wide stops. Options data suggests very strong bear presence at 820 (55Cr) so any move near that will meet with selling pressure.
No comments:
Post a Comment