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Reliance Industries: Opportunity in a Demand Zone ConfluenceReliance Industries Limited (RIL), one of India’s largest conglomerates, has recently experienced a drop in its share price. In the second quarter of FY25, the company reported a 5% decline in consolidated net profit, down to Rs 16,563 crore. While this has weighed on the stock price, it also presents a buying opportunity for traders. Chart Analysis: A Confluence of Demand Zones Let’s take a closer look at the technical picture. If you analyze the weekly chart of Reliance Industries, you’ll notice that the stock is currently trading in a demand zone . This zone is an area on the chart where there is strong buying interest, and it could potentially support the price, leading to a bounce. What makes this setup more attractive is that the stock is also sitting in a daily demand zone , creating a confluence between the two timeframes. Confluences like this increase the probability of a successful trade since multiple factors align in the same direction. Entry 1: Reversal Candlestick Pattern at the First Demand Zone The first potential entry point for a trade comes from the RBR (Rally-Base-Rally) zone , which is the current demand zone on the weekly chart. If you observe a reversal candlestick pattern , this could signal the start of a move higher. Wait for a confirmation of the reversal pattern before entering the trade. This pattern could serve as a signal that the market is ready to rally from the current demand zone. Let’s call this Entry 1 . Entry 2: The Second Demand Zone - A Stronger Opportunity If the price continues to drop, there’s a second RBR demand zone below the current one, and this could provide an even better buying opportunity. What makes this zone particularly strong is that it coincides with a previous resistance level, which could now act as support again . This is known as the Act of Polarity , where old resistance becomes new support & this is also confluence. Entry 2 is compelling because the stock had previously been in a tight consolidation, and this demand zone formed as the price broke out of that consolidation. Now, as the price approaches this zone again, it’s a high-probability area for a bounce. For Entry 2, you can place a stop-loss just below the demand zone, allowing a small buffer. This will protect your trade if the price falls further. Your first target could be the daily supply zone around 2928. Despite recent setbacks, Reliance remains one of the strongest companies in India, with diversified business interests across sectors like telecom, retail, and energy. The current pullback is more of a short-term correction rather than a sign of fundamental weakness. The confluence of demand zones on the weekly and daily charts offers traders a high-probability setup in Reliance Industries. While waiting for a reversal candlestick pattern at the first demand zone is a more conservative approach, the second demand zone presents a stronger opportunity due to confluence of its location at a previous resistance level, which now acts as support. Proper risk management with a stop-loss below the second demand zone ensures that traders are protected if the price drops further. Lastly, thank you for your support, your likes & comments. Disclaimer: This analysis is purely for educational purposes and is not intended as a trading or investment recommendation. I am not a SEBI registered analyst.
NSE:RELIANCELong
by AfnanTAjuddin
2
Short Term Trading Opportunity in Reliance Ind or >7% upsideHi, NSE:RELIANCE has given a Bullish Flag Breakout on Daily charts with very good volume. MACD is also on the bullish side on Daily and Monthly time frames. RSI is also on the bullish side on daily, weekly and monthly time frames. In the current market scenario, I am expecting that the bullish momentum will continue. Complete price projection like entry, stop loss and targets mentioned on the charts for educational purpose. Don't Forget to Follow me to get all the updates. Please share your feedback or any queries on the study. Disclaimer: Please consult your financial advisor before making any investment decision.
NSE:RELIANCELong
by raigvivek
Head and shoulder in Reliance Industries.Major support levels :- 2575, 2550, 2531 Resistance:- 2600, 2620 If it takes out the upper level of 2620 and closes above it on weekly chart, it can give nice up move. Positional stock or stock future trades can be initiated. Intraday trades can be taken on both the side. Bearish trade for an intraday trade can be initiated on the breakdown of the H&S pattern on the hourly candle close. Wait for the price action near the levels before trading.
NSE:RELIANCE
by Mambotrade
8
Reliance long positional viewHello Traders and investors, As we can see the reliance was consolidated in a range by last two years after bullish rally, may be now reliance is ready to fly again as per technical analysis. A proper range bound zone and we can see the supply and demand zone as range of last two years. A proper downtrend channel pattern and trend line breakout happening in current scenario. So we can assume 6th back to back target as per chart view or historical data. Entry = Above 2350.55 Stop loss = 2299 Target = 2413--2494--2580--2698--2827--2975+++ Disclaimer = This is an educational purpose post not as trading recommendation, Trade at your own risk.
NSE:RELIANCE1!Long
by chazzsen
Reliance MILESTONE view ( Super CHANCE)Hello Traders and investors, As we can see the reliance was consolidated in a range by last two years after bullish rally, may be now reliance is ready to fly again as per technical analysis. A proper range bound zone and we can see the supply and demand zone as range of last two years. A proper downtrend channel pattern and trend line breakout happening in current scenario. So we can assume 6th back to back target as per chart view or historical data. Entry = Above 2350.55 Stop loss = 2299 Target = 2413--2494--2580--2698--2827--2975+++ Disclaimer = This is an educational purpose post not as trading recommendation, Trade at your own risk.
NSE:RELIANCE1!Long
by chazzsen
Reliance chart analysis - Day time frame -> buyReliance is currently positioned at a favorable support level within an upward trend line. The stock is presently undervalued, as its trading price remains in a similar range to that of two years ago, and it has not yet surpassed its all-time high (ATH). Based on its recent price action, there is a potential for a 10% upward movement in the next two months. Additionally, with a price-to-earnings (PE) ratio of 25, the valuation of this premier stock appears to be in an attractive buying range. It's worth noting that despite the financial demerger of Jio from Reliance, the stock has delivered relatively low ROI compared to other high-cap stocks over the past two years. With the current positive market sentiment we can hope it will break all resistance and reach new ATH
NSE:RELIANCELong
by tradeGambler