Buy Reliance if sustains above 2550 for the targets of 2565 and 2580.
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InvestPro India Team
Reliance is trading at a long-term channel support & has done a 78% Retracement of the recent trend.
Looks good to accumulate for long term until 2300 is not broken.
This time it can target for another ATH.
For short-term trading, 2400 is the area that should not be broken. Till above it, A good LONG Candidate.
We can observe Stoploss hunt behavior and pattern fake breakout, potential long opportunity above 2650 lvels.
We can look for longs in Reliance if 1hr candle closes above 2650 with good volume,
short term targets should be 2750/2800 levels with recent swing low as stoploss.
--Educational purpose only.
Reliance gave a great move from 2500 level towards 2750 and again retracting towards demand zone, go long for marked targets on the chart until 2500 is intact on the down side.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
RELIANCE near the trend line.
There can be an entry for Intra-day traders for both long and short position.
For Swing traders, wait for the price action to be formed. Buy calls if you find a green candle breaking the trend line. First target can be 2672 ~ for swing traders and the second target can be ~2800 if the market sustains the momentum.
For Intra-day...
Reliance tried to break this trendline twice but failed, But this time it will break and reach the following 2650,2700,2750,2800,2850,2900 targets this month.
Reliance looking good at these level 2385 - 2375 with SL of 2300.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Reliance Industries Ltd (RELI) Break out with strong momentum with high volume and price increase. RSI crossed 61. Time to go long on reliance stock. Buy above 2651. Target 2691 , 2731. Thank you.
On daily candle we can see Bullish Harami candle.
Unfilled Gap we can see @ 2701
Symmetric triangle we can see.
I will add more Qnty once it cross @2594.35
📈 Reliance Industries Ltd. 📉
This broke out from a Resistance Zone of downtrending Trendline and closed above previous swing high of 2450 .
On Buy Side I am looking for Targets of 2552, 2600 and 2730.
StopLoss should be kept below 2350 zone.
It offers 1:2.5 Risk To Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing...
Reliance has given breakout of resistance trendline on daily chart along with very good intensity of volume, also it has been closed above 20WMA (Weekly Mid Bollinger Band)
in addition to this macd in weekly is about to turn positive and daily has done positive crossover few days back, which is now uptick above zero line.
Possibly wave 3 of 3 can now unfold. On...
