Reliance - Stuck in the ZoneWith downside support at 1270 & 1235
and upside resistance at 1300 & 13301
Reliance currently is stuck in the zone
Though trend has been broken with a force
it still needs to fill the gap created before moving ahead
Expecting it to remain sideways for a brief period of time til it breaks strong resistance or strong support
Relianceforecast
Reliance Inds cmp 1267.60 by Weekly Chart viewReliance Inds cmp 1267.60 by Weekly Chart view
- Stock has formed Bearish Rounding Bottom
- Support Zone seen at 1050 to 1100 Price Band
- Support Zone 1250 to 1300 Price Band turning into Resistance Zone
- Stock might probably show more downside by the Technical Chart setup
- Weekly Basis : Support at 1195 > 1100 > 995 with Resistance at 1360 > 1445 >1535 > ATH 1608.80
- Stock Price gone well below the crossover of both the Falling Resistance Trendline and also the Rising Support Trendline been broken down
Reliance - Intraday TradeSpecifically for Intraday only: 15-MTF
Bullish Trade
Trade the Strong Bullish Candle closing above Breakout Level
RSI should be 70 or more
Stop Loss to be below Breakout Candle
Look to book profit before target level
Bearish Trade
Trade the Strong Bearish Candle closing below Breakdown Level
RSI should be 30 or less
Stop Loss to be above Breakdown Candle
Look to book profit before target level
Trade with proper risk management
#RELIANCE: Big Investment Opportunity In Making±Dear Traders,
We are seeing some major correction on Reliance since last few weeks, in our technical view price is yet to drop further towards our designated buying zone. Expect a swift buy from our identified key level, even possible to see a continuous bull run taking price above 3500 region. If you agree to our view please like and comment for more.
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.
RELIANCE KI KACHUE KI CHAALReliance is in a Strong Bullish zone ,
As we can see after the friday breakout the Range & size of the Candle is getting smaller & momentum is decreasing by Time.
Possibly a Correction could appear & divergence move on RSI compared to Previous high.
Not Planning to Trade Aggressively Just wait & watch.
Closses around interesting level. 3200 is the major Resistance area according to Option chain.
JUST WAIT & WATCH
HAPPY TRADING
PRINCE
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.
Reliance Industries: The Mukesh Ambani of Stocks Attention, traders! Buckle up, because Reliance Industries Limited is ready to take off like a rocket ship to the moon! 🚀📈 We’ve spotted some exciting price action and technical patterns that you won't want to miss. Let’s dive into the details.
I. Price Action Overview
Chart Analysis
Current Price: ₹3,061.10
Daily High: ₹3,075.00
Daily Low: ₹3,012.00
Volume: 14.192M
II. Key Technical Indicators
Bullish Flag Pattern: RIL is climbing faster than Antilia's elevator during a power outage. The chart clearly shows a bullish flag pattern, a classic continuation pattern indicating potential upward movement.
Breakout Confirmation: We've seen a solid breakout from the flag pattern, signaling a potential rally.
Volume Breakout: Trading volume is higher than the number of JioMart deliveries on a Sunday. This suggests strong conviction in the move. Accompanying the price breakout, there's a significant increase in volume, further confirming the bullish momentum.
III. Trading Idea:
For the brave Ambani-wannabes out there, riding this uptrend could be more thrilling than a Bollywood blockbuster. But remember, timing the market is as tricky as navigating Mumbai traffic during monsoon!
Price Targets and Support Levels
Immediate Resistance: ₹3,100.00 - This is the next level to watch. A break above this could open the doors to higher levels.
Support Levels:
Primary Support: ₹2,800.00 - A key level to hold for maintaining the bullish outlook.
Secondary Support: ₹2,559.25 - This is a more conservative support level, aligning with previous consolidation areas.
IV. Risks:
If this rally loses steam, the stock could drop faster than your data speed when you run out of Jio balance. Keep an eye on oil prices and telecom regulations, and be ready to book profits quicker than you can say "Jio Dhan Dhana Dhan".
V. Final Thoughts:
Reliance Industries is flexing its muscles like Mukesh Ambani at an AGM. Will it continue to dominate the market like it dominates your phone bill, or will it take a breather? Only time will tell, but one thing's for sure – this stock is more diverse than the menu at a 5-star hotel buffet!
Disclaimer: This analysis is about as guaranteed as a glitch-free day on the MyJio app. Always do your own research and consult a financial advisor before making investment decisions. Happy trading, and may your profits be as hefty as Reliance's market cap! 💼
RELIANCE Weekly Update 15/JUN/24Hello Traders.
Is it that Reliance indicating a One sided move with trendline shifted up higher.
The Patience guy is About to lose the patience & cares about no one.
The big move is on the way once the Range has been Breaked & one of the major role player in NIFTY volatility in Future.
Let it break out of 3000 rs levels & planned the entries on daily chart.
HAPPY TRADING
Ahead of Q4 Result - RelianceReliance Is going to Announce it's Q4 Result today after market on 22 April 2024 but ahead of it when we look at the chart of Reliance we can see there is positivity and it may open or touch 3000 levels and very soon we can see level of 3100.
Disclaimer - Investment and Trading is Subject to Market Risk
RELIANCE: Running TriangleStock has already concluded a running triangle structure at OCt'23 low of 2220 and is rising in an impulsive manner. The measured target for the same is coming in the region of 3400.
Hence, stock is likely to continue it's uptrend towards 3400 with any weakness holding above the support zone of 2500-2450 in the coming months.
FALL EXPECTED IN RELIANCEReliance industries in trading in a channel and taking a short trend near upper channel with SL above the resistance zone has potential of giving good profits.
Sell - 2750 - 2740
SL - 2800
Targets - 2635, 2585
Please like the idea If you agree with the analysis, your like will motivate us to share more ideas on Tradingview.
Happy Trading!
InvestPro India
A Potential Bullish Reversal on the Horizon for RelianceNSE:RELIANCE : Anticipating a Bearish Phase Followed by Potential Bullish Resurgence
Reliance Industries may face bearish trend with an eye on future Bullish Opportunities. Recent market structure mapping, however, suggest a potential bearish phase for the company, prompting investors to reassess their positions. While challenges loom in the short term, astute investors may find solace in the prospect of a bullish resurgence on the horizon.
Reliance Sale Sale Sale..Hey Guys my Views On reliance
Right now reliance is having low volume from days
Maybe this is the sign of some next big wave?
Currently the lows reliance will make to 2252 maybe next week
as macd diverging to sell area it need to wait
last break out was weak no volume thats why it was invalidated and sellers captured the market.
if reliance break bellow 2160 we might see more down movement till 1890
Adios amigos
BUY LEVELS FOR RELIANCEPlease note this is not a financial advice.kindly manage your risk yourself this is just my own views for this trade
Hello everyone hope everyone is doing fine
Today i am here to share my support or buy levels for reliance based on previous trends,order block,relative strength, and according to me these levels for new investors are great in this down trend for example if i have to invest 50000 in this stock i would buy like
BUY LEVELS are
2245=15000
2151=7000
2096=7000
2043=15000
1991 which is probably less expected
same goes for my sell levels
for short term
2436
2492
2620 i will sell around 40-50 till this level and hold my remaining
Upvote if you agree