Momentum Stocks for Short Term, Trade Set Up in Reliance Industries, Tata Steel & Adani Enterprises.
Hello Traders,
Here I am presenting you few charts where in the charts are showing strong momentum & are expected to give very good move in the upcoming days. So let’s discuss the charts one by one
Reliance Industries
The above chart of Reliance Industries is showing great strength on the technical chart. Reliance Industries given a break out on daily chart in the last trading session above 2450. Now Reliance Industries can be brought in to and the buy range is 2475-2485 & we can expect the targets of 2565 – 2602 & 2665 in the days to come. The above trade set up of Reliance Industries is highly favorable and offers excellent risk reward ratio.
Tata Steel
Let’s have a look at the above technical chart of Tata Steel wherein you can see the strong momentum & the Tata Steel Stock given a range breakout above and then consolidated above 1250. Tata Steel was trading in the range of 1070 to 1250 and after range breakout the stock consolidated above 1250. Now Tata Steel can be brought in to in the range of 1295 to 1305 and the target expected is 1424 which is a very good trade setup.
Adani Enterprises
Adani Enterprises is showing the great strength on the charts and it has given a breakout above 1775 and now is a great buying opportunity for traders. The buying range for Adani Enterprises comes to 1810 – 1820 with a stop loss at 1744 and the target expected are 1910 – 1975. We might see Adani Enterprises above 2000 levels in the coming days and hence to improve the profitability one can use trailing SL.
Disclaimer : –
The contents posted here are only for Educational purpose only and do not treat them as a recommendation to buy.
