RIL - Triangle Pattern - Long

5 Jul 2021

Hi Guys,

Please find the detailed analysis of my view in RIL

Time Frame of Chart - Daily
Current Trend: Bullish
Trend Reversal Pattern found in Candle Stick: Yes - Morning Star Pattern
Volume Support the Reversal based on Candle Stick : Yes
Whether EMA50 Cross EMA200? Cross
ATR Volatility? Down
Chart Pattern: Triangle
Build Up happened before /after the breakout of the Chart Pattern? Yes
Breakout Happened? Yes
Breakout Happened with god volume in Chart Pattern? Yes
Post Breakout Next Candle in-line with breakout candle? Yes
Retest Happened? Yes
CPR? - Bullish Bias
Previous Virgin CPR is there? NO
Whether Breakout happened near the CPR? Yes

Support: 2077.45
Resistance: 2177 & 2257.65

Trading:

Buy : Above 2135
SL - 2072.45 ( Closes Above Daily in TF)
Target - 2260.10
Risk: 62.55
Reward: 125.10
Ratio: 1:2

Trade is Favourable ? Yes

Regards,
Thenali Views.
Disclaimer: Kindly do your own analysis before executing the trade or contact
your financial advisor.