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RELIANCE

WILL RELIANCE RE-TEST 200 EMA WEEKLYReliance stock appears to have breached its rising channel on the weekly time frame, indicating a potential downward trend. However, there is a possibility that the stock may re-test its 200 Weekly Moving Average, which presents a potential buying opportunity for long-term investors. Reliance has historically been a "buy the dip" stock, and investors may consider implementing a systematic investment plan (SIP) to add quantity over time. As with any investment decision, it is important to conduct thorough research and analysis before making any trades.
NSE:RELIANCE
by karuneshBajpai2
3
Reliance: Chart set up and trading strategyReliance We are looking at Daily chart of Reliance Industries Observations - 2420-2450 has the potential to act as resistance - One may also look at the Red Line of Resistance as potential supply zone - 2180-2220 has the potential to provide support to the stock - The Green Line of Support comes around 2163 Given the chart setup, My view : Rangebound between 2220-2450 My trading strategy: Short strangle strategy for Mar 2023 series Sell 29 Mar 2500 Call option & Sell 29 Mar 2200 Put option Understanding risk profile and reward potential The strategy has a profit potential of approximately 14.5% till 29 Mar 2023 on Margin requirement and has in built loss protection - for a fall up to 2142 on the downside and - for a rise up to 2558 on the upside Review points for me 2220 on the downside & 2450 /2485 on the upside The review points should give ample scope to adjust / exit in case view is getting invalidated. Take care & safe trading...!!! Disclaimer - The view expressed here is my personal view - Past performance is not a guarantee for future predictions - Use this for educational purpose - Any decision you take, you need to take responsibility for the same - It's your hard earned money. Treat it wisely - Trade / Invest keeping in mind your trading style, goals and objectives, time horizon & risk tolerance - if trading in F&O, understand that F&O trading involves risk - Do take proper risk management measures - Do your own analysis and consult your financial adviser if need be
NSE:RELIANCE
by indiamarketoutlook
10
Reliance Stock Analysis (Short Term)(01-03-23)Reliance Stock Analysis (Short Term)(01-03-23) 2295-2305 is Important Daily Support For Reliance and also creating a Double Bottom Near Support. If Reliance Tests Support area today and Forms a Reversal Candle in Daily Timeframe, Good Opportunity to Build Long Near 2290-2300. Stop Loss is 2275 And Targets are 2366/2384. Since a Dynamic Trendline is holding Reliance Stock Downtrend near 2385, Book 80% Quantity near 2384 and TSL remaining 20% till 2460. Good RR which is almost 1:3 to 1:5.
NSE:RELIANCELong
by n99trades
1
Reliance Double Bottom & RSI DivergenceReliance has formed double bottom pattern on daily chart. While the RSI is making higher low which is clear sign of RSI Bullish Divergence. Entry We can go long on open of next candle. Target Target 1: We can keep our 1st target at the nearest resistance which will also the neckline of the W pattern as marked on chart. Target 2: Once the 1st target is achieved & price gives breakout above the neckline of the W pattern 2nd target will be the next resistance as marked on chart. Stoploss We can keep stoploss below the support zone. Please like & Follow me.
NSE:RELIANCELong
by vt_trader
6