Reliance near upcoming resistance? Short term target 2575-2600!!It looks like the Reliance consolidation channel will act as a resistance, I would only go long above 2667, if it manages to break it convincingly.!! NSE:RELIANCE
RELIANCE
Reliance Industries Limited - Long TradeReliance taking support at two year long channel. RSI also taking support near 40 levels.
Holding horizon - 6-7 months.
Targets - Around 3100
Stop Loss - 2200
This is a setup with good risk reward. I will prefer a covered call (stock in cash with shorted OTM call) in case IV rise, else plain vanilla cash stock.
Please Note - This is not a trading advise, only for informational purposes.
Nifty marking analysis only for learningNifty important marks you can use it . Please check the accuracy of the marking .
Red one are mark in 1 hour time frame and BLUE one are 15 minute timeframe marking .
How line work?
The red and blue line are working as an support and resistance. Please trade with stoploss .
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Reliance Chart analysis | Result DayReliance Chart analysis
Wait for perfect time to buy / short at right time
levels provided....
Gaps we can see as well....
@reliance may continue to stay range boundreliance may continue to stay range bound, could be a great buy if it comes in the range of 2250-2300.
nifty weekly range for next weekSupply and demand zone of nifty for next week.,., option sellers range and Options buyers entry and exit ranges
RELIANCE testing its All Time High
*Reliance getting rejection from its All Time High (2850 levels)
*Impulse down move from its ATH & looks like its it correction phase.
*Selling pressure can be observed once it breakdown its current trendline.
REMEMBER: Perfectly timed entry and exit will give maximum R:R.
Reliance: Near Support level from Long term perspectiveReliance
We are looking at weekly chart of Reliance Industries
- Between July 2018 - May 2020, we observe Reliance trading in 3 red downtrend channel boxes of similar time horizon
- In June 2020 , we see Reliance giving a strong breakout above the red trendline
- thereafter we have seen Reliance trading in 2 parallel yellow boxes
Given the chart pattern,
Accumulate Reliance at current levels and on dips towards 2240
Target 3500 odd levels
Reward potential 50%
Pattern gets invalidated if it closes below the red trendline on a weekly closing basis
Risk 5%
Risk::Reward ratio looks good to go long from medium to long term perspective
Take care & safe trading....!!!
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Disclaimer
- The view expressed here is my personal view
- Past performance is not a guarantee for future predictions
- I have been wrong in the past and can be wrong again in future too
- 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
Nifty Crash or rasie..........Nifty intraday levels for the upcoming week,,,,,,,,,
Kindly long or short only at support and resistances.,.,.
dont be aggressive on longside.,.,
Reliance Bearish formation#reliance is forming HnS which bearish formation
If closes at day low it can be sold with 2400 as SL CMP 2342
Reliance: Channel Break DownNSE:RELIANCE
1. Long term channel B/D taken place
2. Sell on rise towards 2,440
3. TGT 1950 - 1800 (Mirror move - as drawn on the chart)
waiting for a direction it will give a breakout soon I am open to both sides as reliance will decide our markets will breakout in that direction only
most likely on the upside
RELIANCE SELL NOWDon't miss the great SELL opportunity in RELIANCE NOW:
Wait for retracement then sell..
Entry: 2460
SL : 2479
TP1: 2403
TP2: 2369
RR Ration: 1:5 Reward
RIL - can go longbreaking the resistance line - expecting RIL to go up from current level
target and stop based on comfort
personally, would wait for neckline break to enter
2540 level to watch here
patter formation - cup formation
disclaimer - trade @ own risk
RELIANCE SHORTRELIANCE is making a good triangle pattern and moving averages are also showing bearishness in the stock thus Reliance can enter the Bear market once it breaks the triangle.
THE MAJOR support is now 2400 that's gonna be the first target and the second target can be 2200.
RELIANCE LONG#RELIANCE long idea
It broke All time high - buyers will come
Relative strength is 52week high
Momentum is higher in daily & weekly
It takes its time too move, as it is big% of NIFTY
should take profit whenever relative strength weakens & momentum comes down in daily
Reliance , HnS pattern with confirmationAs we can see reliance has formed a weak setup with breakdown and re-test and reliance can drag nifty today. Keep it in radar.
RELIANCE is at Good Position for Long-term and Short-termRIL is consolidating in a range from nearly 10 months. From here good to BUY and Accumulate on DIPs. Short-term 10% up and long-term 20% up possible. Next up move must be a heavy lift to the next accumulation range.
Note: This analysis is from my experience. Please take your financial advisor suggestion before taking position
Will nifty make ATHAt the moment nifty doesnt have any major supply .... but many demand zones.,.,
watch out for the levels............ buy at best dip.,.,
