Reliance went below the 40DEMA but it has made a comeback after touching the daily lower Bollinger band.
More importantly, the daily trend indicator MACD has now turned towards bullish, but still crossover is pending in daily MACD,
Overall chart structure suggests that wave 5 can be possibly unfold now.
As per Elliot waves guidelines and fib levels principle it...
Reliance has strong support zone at 2300-2280 levels and looking good to buy on Dips until these levels are intact on closing basis.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
NSE:RELIANCE
#RELIANCE touch ATH 2750, retraced and now reached to 2620 levels, sustained above the support.
High chances to bounce back and continue positive momentum,
Post sustainability confirmation one can try 2600/2620 CE with same 2600 level as SL.
Happy Trading !!
Reliance Industries are out tomorrow. The stock has fallen more than 3% to test the potential reversal zone of the harmonic pattern XABCD or the demand zone.
As we can see, in the last hour price has bounced off the zone with good volumes. The price has to stay above this zone or else it could test 2500 or even lower by the long unwinding. If sustained above the...
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...
NSE:RELIANCE
Trade Setup for Date 01-10-2021:
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...
Reliance Industries NSE:RELIANCE breakout in upper side. Hoping for good move. Looking good for a swing trade. I have mentioned all the targets and stop loss in the above chart. Comment your views ... Trade safely . Thanks for your support.....
NSE:RELIANCE
Observations:
1)On Daily Time frame: we can see that the retracement is over now and today it gave good bullish candle as a reversal. Now it will go continue it's bullish trend.
Please refer below chart : Daily time frame.
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Trade Setup for Date 17-09-2021:
1)...
NSE:RELIANCE
Retracement is going on.
Now I can expect a dip/retracement till 2335 levels.
You can also refer my previous post on RELIANCE. Link is mentioned below.
NSE:RELIANCE
This is simple positional Trade Setup & Levels for RELIANCE for Short/Mid term holding of Equity shares.
Do comment your doubt or suggestion.
The stock has broken out the previous resistance of 2369 and looking good to buy if sustains above 2400 for marked targets on the chart until 2240 is intact on the closing basis.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Reliance Industries is currently trading at the potential reversal zone (PRZ)/supply zone set by the XABCD Bearish Bat Pattern. In the past after reaching the supply zone, it got corrected until 0.618 Fibonacci retracementent of CD.
After a good correction, it is trading now near the supply zone. Since it touched the all-time highs, it never had closed above the...
NSE:RELIANCE
Trade Setup for Date 30-08-2021:
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) If it breaks the RSI trendline on 15min time frame and breaks the trendline on price chart then it will be quick...
![RELIANCE: Simple Trade Setup | RELIANCE | 18-10-2021 [INTRADAY]](https://s3.tradingview.com/b/BaRyPMZ9_mid.png "Simple Trade Setup | RELIANCE | 18-10-2021 [INTRADAY]")
![RELIANCE: Simple Trade Setup | RELIANCE | 01-10-2021 [INTRADAY]](https://s3.tradingview.com/p/P4yU0C55_mid.png "Simple Trade Setup | RELIANCE | 01-10-2021 [INTRADAY]")
![RELIANCE: Simple Trade Setup | RELIANCE | 17-09-2021 [INTRADAY]](https://s3.tradingview.com/c/cBRpc7Z4_mid.png "Simple Trade Setup | RELIANCE | 17-09-2021 [INTRADAY]")
