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Harshavardhinis
Jul 5, 2022 11:22 AM

Reliance industries good entry point  Long

NSE:RELIANCE1W
RELIANCE INDSNSE

Description

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Take the long position on reliance industries within period of 2-3 months, reliance can reach a new high of 3300.


Disclaimer: I am not SEBI registered analyst
Trend AnalysisChart PatternsTechnical IndicatorsEquityrelianceindustriesrelianceforecastrelianceanalysisreliancetradesetup
Comments
shraghu2010
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Don't you think it is good buy around 2200?
ashokgujarat
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@shraghu2010 pls specify your reason why you think so
shraghu2010
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@ashokgujarat, crude is falling.... 120 to 103... If it falls below 90-100.. Reliance may break strong support of 2370....to 2200-2300... That's safe level to enter... That's my analysis.
spiraloutkaran
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He is correct. There is a daily demand zone at that level as well. Daily candle has crossed 200 DEMA and created a hammer candle at it making it resistance not support for first time in a very long time. 2250 is a good entry, but 2100 is possible.
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