Relianceforecast
Reliance FuturesReliance Futures
LTP: 2155.95
Support:2100.00
Resistance:2180.00 / 2222.15
15m Chart
The chart is in an uptrend since 2nd July
Candles are taking support at 12 DEMA
RSI and MACD are both above the horizon which indicates a bullish trend
Hourly Chart
2100 seems like a very strong support level
Looks like the charts have made a cup and handle pattern which is a bullish pattern
4 Hour Chart
the candle has closed above the 50 DEMA which is a buying signal
The 12 and 26 DEMA have still not crossed on the chart but MACD shows a bullish reversal
RSI has closed above the 50 mark which is a bullish signal
Buy and hold for short to medium term for targets of 2222.00+
Reliance - Wait for breakoutReliance Industry seems to have a breakout from a triangle pattern, so give an entry with appropriate Stop loss only after its breakout
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
Lets plan to get 6% in RELIANCE with Risk of 1-2%👑 Drop a follow here: @Averoy_Apoorv_Analysis 👑 ----------------------- 🔥🔥 Target: 1000 Followers 🔥🔥
📌 Strategy: A good fall but still near good MAs on D charts
✣Risk in the trade is just 1 to 2% that's the quality of the trade :) thus a little more capital can be used but at your own risk
✣The pattern is like a fall - a consolidation zone with RSI bullish divergence and confirmation of breakout from the zones of consolidation
✣Simply watch the morning of Monday if it gaps down = watch if it breaks the level of 2130 again on 15min close
✣If gaps up but not much about 1% then wait for 15min close and see what is happening
✣The best is if it opens sideways then watch for 15min close if above 2130 a good length is initiated
⚠ IMPORTANT POINT: Firstly do your analysis then only think of this trade and set the risk first, only that amount that you are willing to lose and will not get affected even if you lose it and also that amount if you lose it you won't curse me if the analysis flops hahaha just kidding, jokes apart, be patient to capture the movement and be impatient to get out if its a losing one and SL is triggered, don't put tight SL rather use less capital
⌛ Motivational and psychological area ⌛
✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only.
✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow
✣Don't lose hope and keep grinding
✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily.
✣Focus on the process, you are here to make money not stupid decisions, and lose it all
✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market.
✣Believe in yourself :)
🎓🎓 Some info about me :)
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼I don't take all the trades I post
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
☃☃☃☃ Thank You Have a Nice Trading Day ☃☃☃☃
📊 Reliance 🎯NSE:RELIANCE
As we can see after AGM it has fallen but it's cycle ups and downs always be a part of stock market same as our life (gir kar uthata hain wahi to upar utha hain).
see behind this probable up move there is a logic and we have to follow process is we want to become successful in stock market.
as per this chart we can clearly see that Reliance at Harmonic PRZ so from upcoming trading session if we find that it will be crossing above or staying above VWAP then one can go long on Reliance and one must has to follow stop loss as per their trade setup.
Be independent trader.
Take charge of your own trades.
Learn . Apply . Grow
Reliance For Buying Opportunity Reliance Looking for a Buying Opportunity
Reliance Price Rejected from Top Level, There are two supports that may bounce. The first support has a 70% probability of bouncing, while the second support has a 30% chance of bouncing. You may buy for swing trading, short or long term, so don't miss out.
Also, Keep It Mind that
If stock market gurus were true experts, they would buy stock not selling advice. So don't take anyone's word for it; this is just my opinion; do your own analysis
Reliance Long after 2367 ...ready break above accumulation zone.NSE:RELIANCE Reliance ready to break around 40 weeks accumulation zone,at resistance level 2367 if breaks out above this level and sustain then it ll bullish for coming months..RSI is also around 60 and forming rounding bottom pattern which bullish continuous patter in weekly timeframe.
its for eduacation n analysis purpose only..its my personal view so dont trade on basis of it. consult your financial advisor before taking any trade.trade on your own risk.
Reliance - Wait for the levels 💲💲 FOLLOW me @Averoy_Apoorv_Analysis and get these free analysis :) 💲💲
🔰 {Some info}
➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all.
➼I hope you will love my simple analysis style.
➼Feel free to suggest your view on this as learning is earning here :)
➼I take my trades on my Zerodha account :)
➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
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