will reliance take or break support.> Reliance trading at crucial level which weekly trendline.
> on daily timeframe, closing below 2363 could be big trouble.
> double top pattern is clearly visible.
> on daily timeframe price is below all key moving averages.
only for education, not a trading recommendation.
NSE:RELIANCE
RELIANCE
ViVen IND - Multi Time Frame Price Action Trading IndicatorHi Traders,
Trading is Simple, Make it Useful!!
Here the trading made easy with Signals...
Its a Combined Pivot Boss Price Action Strategy Indicator.
This indicator has been created based on Pivot Boss, RSI and Price Action Strategy.
BUY Signal - Go Long at middle price of the Signal Candle, SL low of the candle.
SELL Signal - Go Short at middle price of the Signal Candle, SL high of the candle.
ViVen - IND Indicator Details:
Daily CPR Levels
Pivot Points
Weekly CPR Levels
Next Day CPR Levels
Camarilla Levels
Pre - Day, Week, Month - High / Low Levels
SMA , EMA and WMA Moving Averages
Bollinger Bands with Multi Time Frame
Moving Average with Multi Time Frame
Magic Band
Price Action
Along with this Trend and Strategy table added in the chart which indicates about the Trend.
I also included BUY / SELL labels to take positions.
Do you agree with the Concepts above?
Happy Trading!!
RELIANCE - DAILY CHART ANALYSISReliance Industries - Daily Chart Analysis
Current Market is around crucial support zones which if held is good for upside into resistance , if market supports the upmove then it may even get around swing resistance . If the Crucial Supports are broken and market stays below the zone for more than a 1-3 days then we may see severe correction in this stock
RELIANCE Wait And Watch ??
Look for Low risk, High reward, and High Probability setups-
Things to Remember while Trading with the Trend
1. Know what the trend is.
2. The best trades are made in the direction of the trend.
3. Assume that the main trendline or moving average will hold.
4. The longer the moving average is, the better it defines the trend.
5. Wait for the pullback.
6. Don’t chase the market.
7. Don’t fight the market.
8. Even in the strongest trends there should be some retracement.
9. The closer the market is to the trendline, the better the risk/reward ratio is.
10. Use ADX to determine the strength of the trend.
11. Higher the level of ADX , the stronger the trend, below 20 consider the market to be choppy
12. Hold trades longer in a strong trend.
13. Wait for confirmation of a trendline breaking before reversing position.
14. Know where the Support levels are.
15. Place stops outside the Support levels.
Thank You..
ITC CAN GO STRONGLY UPSIDE!As you can see ITC formed leading diagonal in a monthly chart and gives a breakout upside. ITC completed it's 1st and 2nd wave and it's now in 3rd wave of monthly chart. The first Target of ITC will be 387 and second Target 417. We can see a very strong upside movement in ITC.
Reliance: At a key Make-or-Break levelsome observations on Reliance:
1. Reliance got a close (2,408) below all key Key moving averages
65DMA
100DMA
200DMA
233DMA
2. Moreover, a prominent Harmonic pattern's "B" stands at 2,426. If prices start traveling below this, we have deeper short targets till 1900.
3. Weekly Swing high being 2,626
4. Reliance has given 4th consecutive close in Red. (Can maintain this momentum for 5th to 7th Week).
# Now until we get a healthy close above 2,626 on a weekly basis, Reliance became the "Sale on rise" till 2,626 is achieved on a weekly closing bases
Reliance is this was just the warning ?NSE: RELIANCE
If Breaks Then The Targets could be Taken at 1932
Time Frame :- 1 Day
We are not responsible for any profit or loss
Based on Your Own Risk this is only to Show you the Current Pattern
Comment Below If You want to ask me questions on this on any other idea
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Made By MAYANKTECHRESEARCHING
RELIANCE WIDE BULLISH DIVERSIONRELIANCE at present time formed a wide bullish diversion where price is up but at the same time RSI is less than then the previous RSI
as mention on the chart bullish wide diversion is formed between important candle 1 and 2
rest of the details are mentioned on the chart notes