RELIANCE H&S BREAKOUTRELIANCE breaking out with huge volume
making h&s pattern
target can be 2900+
can retest till 2630
educational idea only
RELIANCE
Reliance (RELIANCE INDS): Time to take note of this giant...This week the price closed marginally above the 40 weekly moving average.
Important to note levels above 2675 as it could create momentum for an upward move.
Above 2800, it might touch its high of 2856 and even move higher to 3000.
Trade with a stop loss of 5-8%.
Note: Not a buy/sell recommendation. Do your own research and consult your investment advisor.
IT WILL ALWAYS GIVE RELIANCE Reliance is looking good on weekly chart by breaking falling trendline resistance after long time and gives a positive crossover divergence on MACD indicator too so we can see coming bullishness in this fundamentally strong counter.
Cause of long-:
1- Falling resistance trendline breakout.
2-MACD breakout.
reliance start moov in upsideReliance is now break the trend line and good to retest this trend line
you have buy now in Reliance is current market price
RELIANCE IS GOING ALL TIME HIGHas nifty is on 18300 and sudden reaction nifty it sector is bullish the trend on indian market is now to much bullish
reliance is highest weighted on nifty 50 so this stock is to much important is this.
there is gap also between 2675 to 2720
Reliance near the trend line on 1D timeframeRELIANCE near the trend line.
There can be an entry for Intra-day traders for both long and short position.
For Swing traders, wait for the price action to be formed. Buy calls if you find a green candle breaking the trend line. First target can be 2672 ~ for swing traders and the second target can be ~2800 if the market sustains the momentum.
For Intra-day traders you can short puts if you see a red candle tomorrow or go long if the trend line breaks in 1st hour of the session tomorrow.
Cheers. Happy Trading...
CNXEnergy Nifty EnergyCNXEnergy will be an absolute avoid from a long perspective.
One can see that the RSI is losing a lot of strength and the index is unable to make higher highs.
We have witnessed this kind of pattern during 2018,2019 and we all know what happened in 2020.
It can dupe by a small movement but one need to observe if the index is unable to make a higher high then it will become problematic for the index.
The index contains
Reliance Industries Ltd. 33.82
Adani Transmission Ltd. 12.35
NTPC Ltd. 10.88
Power Grid Corporation of India Ltd. 10.31
Adani Green Energy Ltd. 10.13
Oil & Natural Gas Corporation Ltd. 6.91
Tata Power Co. Ltd. 5.06
Bharat Petroleum Corporation Ltd. 3.83
Indian Oil Corporation Ltd. 3.44
GAIL (India) Ltd. 3.25
I would absolutely avoid the above stocks as I am not seeing any great gains from long point of view.
Disclaimer - Please DYOR, Don't take any market positions based on my analysis.
Reliance is at its Declined Trend line Support It's Short-Term Targets are 2679, 2783, 2859, 3170 in 3 to 5 months it is my personal view because it is entered in a new zone
Please Comment about my idea and give your review, I have only 2 years experience so don't follow me blindly, do your own analysis also, it is my second post on Tradingview
Reliance is retesting the breakout
Most likely it would hold the support of breakout line and move toward 2700+ until the 2495 (SL for equity segment) is intact.
Target 2700+ in next 10-15 days as a Positional view.
SL : 2545
See the chart for more details.
RELIANCE LOOKS WEAKReliance has broken the upward trend line and looks we are going to see down levels in coming sessions. Sell @ 2600 - 2610 with the SL of 2650.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
RelianceReliance -RIL - facing confluence of resistance.
Windfall tax causing damage?
Will it break below 2500?
Reliance case studyPrice action study on reliance 240 mins chart,
from last 2 trading sessions counter is giving weak signals,
rally started around 2300 levels in counter to level of 2640
counter is trading in ascending parallel channel structure and maintaining its posture around higher end of the structure,,
now in last 2 sessions counter is giving reversal signals,
bearish divergence on RSI with respect to price,
resistance of major descending parallel channel around 2640
RSI indicator have already given breakdown from ascending trend line support,
Now onwards any rally till levels of 2620-2630 should be used to exit your long position,
view gets negated above 2671 levels on daiy closing basis, which means fresh investments only above 2671 levels,
down side on counter breaks levels of 2583 decisively, counter will face heat of selling pressure which would lead to lower levels of 2520-2490-2450,,
Time to be cautious on your investments in this counter, fresh investor should wait for counter to break above 2671 levels or retrace till 2450 levels than enter the trade.
Choice is yours.
Reliance Weekly & Daily Chart Reliance Weekly & Daily Chart ,Bullish Setup ,With Trendline and channels .
Reliance BullishReliance is out of the trend line on positive side. Look for a retest and move up side. If market opens positive, then may not retest.
NIFTY BANKNIFTY and other sector analysis NSE:NIFTY NSE:BANKNIFTY NSE:CNXIT NSE:CNXMETAL NSE:CNXINFRA NSE:CNXMEDIA NSE:RELIANCE NSE:TCS NSE:MINDTREE NSE:KOTAKBANK NSE:AXISBANK
Good to keep on the radar
Always respect SL & position sizing
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Trade Secrets By Pratik
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Disclaimer
SEBI UNREGISTERED
This is our personal view and this analysis
is only for educational purposes
Please consult your advisor before
investing or trading
You are solely responsible for any decisions
you take on basis of our research.
Reliance is looking good post a small retracementNSE:RELIANCE can give breakout post it's small retracement.
Reliance to reach 2800, will it break all time high? Reliance has broken channel and pattern.
Formed Bullish #Headandshoulder pattern
Will it help to break Nifty consolidation zone?
Head height giving Rs 250 price range.
Buy #Reliance Above 2611
SL 2510
T1: 2710
T2: 2810
Reliance Breaks Its DownfallReliance has broken past its long term bearish trendline after taking support from its short term bullish trendline
on above average volume.
50EMA has crossed 200EMA giving a
golden cross.
Targets can be take at T1 and T2
Stop loss below the most recent candle
Keep It Simple
Reliance about to break trendlineReliance tried to break this trendline twice but failed, But this time it will break and reach the following 2650,2700,2750,2800,2850,2900 targets this month.
Reliance a target of 3100 coming in few months!A very nice descending channel i NSE:RELIANCE nside a paralell channel. If it doesn't take one leg down, Im pretty sure it'll give a nice breakout heading towards 3100!!
Reliance Analysis (Short Term)Reliance Analysis (Short Term)
If Price Sustained above 2590, more Upside Possible and Target is 2650/2660
If Price breaks 2508, more Downside and target is 2465/2452.
