Reliance 15 minute Chart. Trade plan for 31/05/2023
1. Daily trend is upside. so its better to look for buying on dip.
2. PCR is 0.71 which indicates Call volume is exceeds PUT. signifies bullish market ahead.
Looking for Buy Entry:
If price rallys above the previous day high i.e 2538.20 and sustains.(entry after a pull back)
If Gap Up opening above 2538.20
-wait untill price takes support near 2538.20. or breaks resistance near 2574(buy entry after pull back)
If Gap Down below 2502.1
-look for support near 2457.10 or beaaking the resistance of previous day high.
Looking for sell entry:
If Gap Down below 2502.1
- breaks tthe support near 2416. sell entry with half qty. after pull back.
(I am a beginner, so please provide suggestions on whether my analysis is correct or not.)
