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RELIANCE

Reliance harmonic and elliot wave studyReliance spot cmp 2710 Harmonic + Elliot wave study Time frame :- Daily Bearish deep crab pattern formation with PRZ in range 2710-2740,, Alternate 1.618 AB= CD pattern matures around same levels.. From last 5 sessions counter is making high around 2720 levels and not able to close on higher end, Today counter gave good breakout above the consolidation of last 4 sessions but at last was not able to sustain and got sold off and again closed below 2720 levels, indicates fresh buying is missing around this levels. Counting from right to left 2 candle is long legged doji where there was indecision between bulls and bears to take the control,, Today bull took the charge but were unable to handle and landed with long tail on higher side of daily candle.. Elliot wave formation,, at the moment impulse wave 5 of major wave (3) is on verge to mature ,, if major wave (4) unfold form current levels, we may see retracement of 23.6 to 38.2% of recent swing move which may lead prices towards 2560-2480 levels. Rsi divergence observed between peak of minor wave 3 and peak of wave 5,, where prices are making higher high but RSI fails to make higher high. Reversal confirmation can be seen one last 5 sessions low is broken and sustained..
NSE:RELIANCE
by RUDRA007
1
Simple Trade Setup | RELIANCE | 18-10-2021 [INTRADAY]NSE:RELIANCE Observations: 1) On 15 min time frame, we can see formation of cup and handle pattern. Please refer below chart : 15min Time Frame. 2) On 1 day time frame, if we apply FIB RETRACEMENT then we can see that critical level to breakout on daily time is 2702.45 level. But for safer side we will consider the high of previos candle which is coming at 2720 level. So we can put the major resistance at 2720 level. Breakout of it will give bullish move and we can see the ultimate target of 2778 in short term. Please refer below chart : 1day Time Frame. ------------------------------------- Trade Setup for Date 18-10-2021: Most of the levels will remains the same as per previous setup. 1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action. 2) Everything is mentioned on the chart. I hope it is easy to understand. 3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level. 4) Avoid gap up or gap down chase. Wait and trade between levels. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion. Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
NSE:RELIANCE
by Trading_hawk
Nifty OHLC is above 18000 helps Nifty SoarNIFTY 50 EOD ANALYSIS -13-10-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 18097.85 H 18197.80 L 18050.75 C 18161.75 EOD - +169.80 points /+0.94% SGX Nifty at 1905h = +44 points FII DII = +506 Crores CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened with a strong gap up of more than 100 points and then kept crawling up throughout the day. It made a higher high and a higher low. Nifty ended the day comfortably above 18150. Nifty low for the day was at 18050 and that is a great statistics to have - all OHLC above 18000. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 103 Top 5 Draggers contributed = 17 Net = +86 POSITIVES Nifty OHLC was above 18000. Tata Motors was the key driver for Nifty as it single-handedly contributed 50 points to Nifty. Reliance soared yet again though it ended below 2700. Bank Nifty OHLC was also well above 38000. NEGATIVES TCS continued to be under pressure. Bank Nifty ended in green but that was mainly on account of HDFC Bank and Kotak Bank. The rest of the lot looks vulnerable at higher levels. TRADING RANGE FOR 13-10-21 Nifty = 17900-18000 as the support band and I am not sure about the resistances other than the ATH level. Bank Nifty = 38000-38200 as the support band and I am not sure about the resistances other than the ATH level. INSIGHTS / OBSERVATIONS I do not recall ever seeing Tata Motors rise the way it did today. This was very pleasing to the eyes. And it was interesting and surprising to see that Maruti was the top loser when its elder sibling Tata Motors making the sector roar. The ever sleepy M&M & ITC also roared today. On one side DMart ended the day above 5000 and with a 7%+ rise selling FMCG items and the FMCG giant Hindustan Unilever fell more than 1%! Is distribution replacing manufacturing? What do you feel about this? Thank you, and Happy Money Making! Umesh 13-10-21 NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
Levels for - 14 Oct 2021EXPLANATION : This is a 15 min time frame chart of RELIANCE . It has taking trendline support , If give a strong breakdown and broke its trendline & Demand zone with high volumes and retest the same , I am bearish on RELIANCE . If support is taken from trendline & give a strong breakout and broke its Supply zone with high volumes and retest the same , I am bullish on RELIANCE . The level will be 2750 . If you like the analysis give a Like // Follow for more updates , let me know in comments below :)
NSE:RELIANCE
by pranav_nanavare
Reliance is ready for big move…Reliance is ready for big move… Reasons/Traits : • 0.236 Fib levels support can be seen • Taking support at 13 EMA • Consolidation during uptrend can be seen • Bullish Cross Doji formed today (bullishness) What can happen next : Scenario 1 : If price break 2435 then can go up to 2480/2500/2550/2600/2650 Scenario 2 : Stock if breaks the 13 EMA support and 0.236 Fib level support can go to 2275/2225/2180/2150 Disclaimer : This analysis is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
NSE:RELIANCE
by AdhigamaTrading
IT "glitch" drags Nifty below 17950 from 18040+NIFTY 50 EOD ANALYSIS -11-10-21 In this post, I talk about the analysis for the day and the trading range for tomorrow. The video discusses with the help of the charts how the indices as well as leading stocks performed during the day and their likely play tomorrow. O 17867.55 H 18041.95 L 17839.10 C 17945.95 EOD - +50.75 points /+0.28% SGX Nifty at 1930h =20points FII DII = -1676 Crores. CHART BASED CONCLUSIONS using 5 Minutes Chart Nifty opened a mild gap up and then sold off to 8-10 low level and then, made a strong and sustained recovery to clear 18000 in style and then topped 18040 as well. However, by then FTSE had opened and the usual nervousness walked in and then there was a sell-off over the next 3 hours. Yet again, Nifty ended the day 90+ points below the ATH level achieved during the day. NIFTY WEIGHT LIFTERS & DRAGGERS Top 5 Lifters contributed = 72 Top 5 Draggers contributed = 87 Net = -15 POSITIVES Nifty hit an All Time High above 18000. Nifty ended at yet another ATH close. HDFC was very volatile but settled in the green on an EOD basis. HDFC Bank seems to be pricing in a good result like how TCS did. Bank Nifty hit a new ATH and also ended at a new ATH. NEGATIVES IT big heads dragged Nifty in a big way. I do not recall TCS falling more than 3% post results in the recent past. Though this was to happen as it was at a very critical level below 4000. Reliance lost more than 60 points after hitting an ATH of 2720. TRADING RANGE FOR the coming week Nifty 17700-750 is the support base. I am not sure about the resistance levels as price action in Infosys, Wipro, as well as HDFC Bank may keep driving Nifty as they get ready to receive their answer papers during the next few days. Bank Nifty Support = 37500-700 appears to be a good support area. Since the ATH was hit today, I will let the index play its game for a couple of days and see where it ends the week before commenting on any resistance levels. INSIGHTS / OBSERVATIONS Nifty low for the day was just 1 point below 8-10 low and high for the day was 100 points above 8-10 high and yet Nifty managed to close only 50 points above 8-10 Close. This seems to be a mathematical play! The contribution by Nifty top 5 performers fell short by 15 points from the top 5 draggers of the Index. This is the kind of weakness and negativity that was driven by the IT index and that is why the subject line of the post. What do you feel about this? Thank you, and Happy Money Making! Umesh 11-10-21 NOTE -- This write-up is not a prediction mechanism for the movement of Indices in the Indian markets as the markets are unpredictable in nature. I may refer to many data points in the article but I do not base my view on any of these standalone. In fact, I prefer to react to the price moves than predict the price moves. I also do not review Open Interest. Whatever data points I am using, are all stated in the article. The article title, as well as its contents, can at best be stated as --- This Is How I Read Nifty. I hope I have been able to set the expectations right. ---
NSE:NIFTY
by AVENUESOFINVESTMENT
2
reliance expecting great fallfirst, let concentrate on bullish ab=cd pattern with green color and point to be noted here is that candle exactly closed below point D of this pattern and we have a saying in harmonic analysis that if pattern is at exact harmonic ratio it can be hugely accurate. Now second pattern i have made is shark pattern with green color and has kicked in at point D of ab=cd pattern, it may not fall that much but according to this shark, it can fall till 1916, but white trendlines each might work as good support and if broken downside they may turn into resistance. Now if bullish ab=cd has been completed and shark has kicked in , for these two condition to work candle must never ever reach high of today`s candle or else it may invalidate whole setup. There is one more thing, the previous pattern was butterfly as written on chart and according to this it may stretch till 2503 and today stock hit 2478 so there is not much difference and i would say stock may/may not hit 2503 and now for long side again , candle must close below this 2503 and do not long until this level is surpassed to be on safer side. Long above 2503 only for targets 2573 and finale at 2679 good luck this is for educational purpose only
NSE:RELIANCEShort
by UnknownUnicorn22711483