Seniors and experts: please comment on this RIL chart: alert suspected

[winstonn]

Hello Asish,

nice to see you!
thanx a lot for your ace opinion!

Take care,
Winston

 

[aca_trader]

Hello Asish,

nice to see you!
thanx a lot for your ace opinion!

Take care,
Winston

Always a pleasure Mate!

C Ya!

 

[tuxian]

Hey guys it looks nice info collected but its kind of bit higher compare 2 my knowledge.
Btw I want to invest in Reliance Co.like REl,RPL,RNRL,Relicomm.

So at what level should I buy them

 

[kkseal]

A short below 2700 itself, IMHO, was permitted. Either, below the low of the breakout bar or if price would have gone below the retracement bar.

BTW, now as price is inside the channel one again, one can look forward to shorting at the upper channel line with an assumption that channel will not be broken. Ofcourse, divergence alongwith candle behaviour, at that point, would come as a handy tool. If, however, channel is broken on the upper side, the short trade should be reversed.

Regards,
--Ashish

WoW! Ashish is back!!

Also watch out for a peak-to-peak divergence (what we've had so far is what i call a slope divergence) with short term momentum at ob levls (& crossing down).

Regards,
Kalyan.

 

[Prabhjeet]

Winstonn the pattern you are talking about is visible on Nifty charts also almost identical to RIL charts. Looks like the momentum is ready to reverse on the opposite side unless we break the previous tops on both NIFTY and RIL with substantially high volumes, these kind of congestion areas that we are seeing on the charts are very important and i thinK RIL can move on either sides and though 2600 can emerge as a good shorting opportunity but we cannot question the bull power behind the RIL and even after breaking down it may come up with equal thurst so as far as I am concerned it will be better to find buying opportunities in RIL rather than shorting opportunities in RIL until markets get into clear downtrend.

Thats what i think, may be i am wrong but it would be safer to go in Uptrend with RIL

 

[sudoku1]

Winstonn the pattern you are talking about is visible on Nifty charts also almost identical to RIL charts. Looks like the momentum is ready to reverse on the opposite side unless we break the previous tops on both NIFTY and RIL with substantially high volumes, these kind of congestion areas that we are seeing on the charts are very important and i thinK RIL can move on either sides and though 2600 can emerge as a good shorting opportunity but we cannot question the bull power behind the RIL and even after breaking down it may come up with equal thurst so as far as I am concerned it will be better to find buying opportunities in RIL rather than shorting opportunities in RIL until markets get into clear downtrend.

Thats what i think, may be i am wrong but it would be safer to go in Uptrend with RIL

in our view....technically RIL is still as strong as before....it was just passing a sideways phase putting the overbought indicators in the comfort zone.....
TILL RIL CLOSE BELOW 2600...DONT EVEN THINK OF SHORTING....
IF U R A SHORT TERM trader....then it may b okay with strict stoplosses.....as every trader has a different gameplan....
so just our personal views & no rec as of any....

 

[kkseal]

Who's in a hurry anyway?

In fact after the breakdown failure (which didn't happen on good enough volumes and had quite a bit of support confluence near under) some upside strength is expected in the short run.

Regards,
Kalyan.