reliance has to give a pull back ..if it fails a downslide in nifty can be observed
Reliance has been moving in pretty channels taking sup/resistance at each step.CUrrently at the base of the channel, awaiting a reversal/breakout. Also its close to its daily trendline.
facing resistance at "B" Zone of ABCD pattern (960). Probable double top . Day before made shooting star candle, Not a strong 1 though. Staying neutral. BSE:RELIANCE
BSE:RELIANCE Reliance facing resistance at "B" Zone of ABCD pattern (960). Probable double top. Day before made shooting star candle, Not a strong 1 though. Staying neutral.
Reliance has been moving up taking good support/resistance at each level, noticeably with sharp turns and reversals. Currently at such a level, awaiting a breakout/reversal for another leg
After a hugee leg up to make lifetime highs,a flag is obvious and desirable,
Next 3/4 days are crucial for Reliance to decide on next level whether it will come down or move above current trend line. Currently RSI is t 70 which had resistance in past, hence if it sustains above 900 script will continue its form. However if RSI resisted then stock will come back to 825/830 level before retrying. Any thoughts people?
Moving sotra in a wedge, its approaching its sup/resistance level.
After the fox paus of North Korea, and despite the best efforts of US admin to fuck things up, normalcy is restored. Normalcy by definition is abnormal though these days. So be on your tows. Over next few days, week or two, it's the most bullish of bull market all around! Medium to long term is unknown. But it's great time to make some money in short term. For...
Reliance is moving in a range for a while,close to its lifetime high. Will face resistance reaching /breaking the high. But eventually ,with the soon_to_be_launched Jio phone this month.
Script - Relcap Pattern - Ascending Triangle Breakout - Long Trend - Neutral Trade: Position - Long Entry - above 813 Exit - 846 Stop loss - 790
Reliance CMP 1572 The stock is near 2008 highs. It is an important level and is likely to get some respect. Expect some resistance around 1620-1650 zone. In the longer run, any dips towards 1360-1280 will provide good entry opportunity in the stock from long term accumulation perspective... For the current set up, One may consider the Strategy to Sell : -...
It is been observed on the daily chart that the price action is forming lower lows and indicating further weakness ahead. Target 1- 1540 Target 2- 1510 SL - 1600
EW count should be self explanatory. Target is based on the Breakout from triangle consolidation on weekly charts.
Reliance has been a true star that practically carried Nifty for some time. Now it's time for a breather. The rally looks tired. Notice the indecisive price action at 1600 level (encircled). Also there is divergence in the stochastics as seen in CCI. Should be a low risk trade to go short with a stop above 1620 and target of 1505 (just before 1500 to be safe)
cup and handle formed in daily , then breakout happened today with above average volume. short term tgt of 1601 is possible here. sl should be below handle low - around 1371.