i will be using this thread to note down some trading ideas, which i may/may not be trading. these are not part of my routine trading. its about scrips where something unusual may have happened as per me and i am having contra view (not always) to that event, it may be news,results, some chart pattern or any other things. more about testing my method/system viz a vie such things.
date- 22-8-19
reliance- from the low of 8-8-19 (1095.30) it has moved up substantially and its recent high is 1304.45. almost 19-20% gain in 7 trading sessions.
event- some middle east company(dont remember the name) has bought 20% stake and in AGM mgt they talked about making company debt free and some other great things, which i have not understood but all in all a very bullish scenario for the scrip.
my view- as per me long term trend(LTT) is down for the scrip. on LTT basis its OB and i may be looking for swing short on the rise in price around 1310-1330.
date- 22-8-19
reliance- from the low of 8-8-19 (1095.30) it has moved up substantially and its recent high is 1304.45. almost 19-20% gain in 7 trading sessions.
event- some middle east company(dont remember the name) has bought 20% stake and in AGM mgt they talked about making company debt free and some other great things, which i have not understood but all in all a very bullish scenario for the scrip.
my view- as per me long term trend(LTT) is down for the scrip. on LTT basis its OB and i may be looking for swing short on the rise in price around 1310-1330.