As per my technical analysis reliance goes up.. News also buying side Target-1540
Reliance industries completed the uptrend 1.618 is over and now has to take a dip down
Negative divergence ( hidden) formation on daily chart, will only get confirmed, if we get a negative close tomorrow, support at 1407-10, resistance 1500-12. Just a view. Thank you.
As we have seen reliance followed our targets of top levels. Now what we have to keep in mind is 1500 levels acts as a strong or rather very strong resistance. Now we have to keep in mind reliance can even touch 1750 levels once(ONCE), Mark it and it would be only factor to lift up nifty, and in other terms if it does goes up, will deny all other stocks which have...
.786 RETRACEMENT VALIDATES THAT BUTTERFLY IS UNDERWAY AS IT TODAY LEFT WICK AT .786 LEVEL IT IS VALID
Industry :- Scanner :- T&D; Rising Abv 200D EMA :- Above ABV 50D EMA :- Above RSI 11 :- 72 CRS Sloping 21D :- Upslope Delivery Volumes D>W>6M :- D>MCOI and Rising
NSE:RELIANCE WE EXPECTED SOME CORRECTION BUT THE NEWS DRIVEN THE PRICE TO AN HIGH OF NEAR TO 1500 AND FROM THERE IT CAME BACK WILL WE SEE THE NOW LETS WATCH
As we have seen yesterday's chart of reliance, it have respected the red line and have not crossed above, and for the whole day, it have formed a channel, the next day's plan is to close below yellow line. I will not give any trades unless a clear sign forms. There are no chances of Gapup opening on reliance. A very futile tug of war between 1400 and 1300 levels
Today Nifty 50 reclaims its 9300 levels, but Reliance facing resistance issues at 1370-80 levels, If the stock does not break this level in short period than I think this is the level that you should short it. Also, Reliance Q4 results are yet to come and fresh news coming in that, 1) Reliance's March oil imports down 8.3% year-on-year - trade 2) Reliance's...
1380-1400 level are major resistance for reliance if reliance don't break this resistance with high volume than it can go down to 1300 or up to 1250 also
Here is the analysis of reliance. Please Wait for the review
Technically, Reliance is in a downtrend still. Given the 2 news updates on 21st and 22nd April, 2020; the stock has shown Bullish Divergence but the %Delivery against the Traded Quantity stands at 23% which indicates an Unstable Upswing. This also coincides with Harmonics PRZ (not highlighted on Chart) range of 1360-1390 22/04/2020 Closing 1363 Spot. Little...
Recent News bulls the Reliance and Market also...Last 2 hours some pull back trade.... Oi also decrease shows short covering....spectator book their profits at open... Play Accordingly... Do your own analysis... Blue line target...