REL

If buying support/bottom fishing buy with sl below 493
System: (Trend follower)
Stock Name: REL
Buyarea=507.647
Support1 :511.22 Support2 :507.14
Resistance1:529.56 Resistance2:543.40
ATR(14)=13.8406
Target1:514.567 Target2:521.488
Target3:529.792
SL1:504.879 SL2:493.806
Sl1 to be employed on closing basis

My system says long
How to trade? Buy at buy area use sl on closing basis and
trade for the targets also only on closing basis

Or look for intraday breakout above 512 sl u will have to derive from intraday levels/floor levels and you can target 520-529-544.
Please check results /funda angle to make sure no big moves cooking on either side before trading.
I think results came out recently so no mega moves expected now.

This is a retracement move
Retracements :471.1-534
0.236:519.156 0.382:509.972
0.5 :502.55 0.618:495.128
0.764:485.944

Trend following i.e bottom fishing with the trend has low accuracy but very high reward/risk
Trade can easily become a breakout trade in your favour in a bull market.
I remember someone gave a breakout trade on this above 520
What about all those bulls stuck at 530?
Are we going to abandon them in this bull market??
Or will we hold 484 and go for 550-650 :)
Lets find out.