Reliance Industries Ltd
Reliance Industries Ltd (RELIANCE) - Positional Trade Update
Current Market Price (CMP): ₹1,378
Entry Range: ₹1,350 – ₹1,378
Target Levels: ₹1,400, ₹1,420, ₹1,450
Time Horizon: 1 Week (Positional Trade)
Trade Rationale
- Technical Indicators: The stock is showing a neutral to mildly bullish trend. A sustained move above ₹1,396 could target ₹1,400–₹1,420 in the short term. Reference
- Support Levels: Key support is around ₹1,350. A breach below this may indicate a bearish trend. Reference
- Resistance Levels: Immediate resistance is at ₹1,396. A breakout above this can lead to upward momentum. Reference
Risk Management
- Stop-Loss: Below ₹1,350
- Position Sizing: Allocate a portion of your portfolio according to your risk tolerance
Note: This analysis is based on technical indicators and historical price action. Market conditions can change, and it's essential to stay updated with the latest information.
Disclaimer: This is not financial advice. Conduct your own research or consult a financial advisor before making investment decisions.
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