Cup and handle formation
entry= 1400
target= 1569
sl=1344
R:R = 1:3
Prices are forming a cup and handle type formation on daily chart. the height of the cup = 169 points so target is 1400 +169= 1569 with a stop loss of 4 % , R:R of 1:3 is favourable
Rationale behind this trade
OPEN
RELIANCE
(Enter above 2117.0)
2000
-5.53%
Current
2150
Target
2000
Stoploss
2117
Entered
(21/01/2021 13:15:00)
Recommended on 21-01-2021 13:08:00 and valid till 21/02/2021