The last idea was to short Reliance from 1990 levels for the target of 1930-1920 which met today. Now, the stock consolidating near the support and we may see 2040-2050 levels again in few sessions.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Hello everyone,
I can come up with a professional tortoise pattern on the chart or a pure professional price action chart.
~~~~~~~~~~~~~~~~~~
Coming to the chart and the analysis :-
~~~~~~~~~~~~~~~~~~
Currently, reliance is facing trend line resistance and horizontal resistance. It has sweetly rejected the line and formed a good rejection Pinbar candle...
We shared the last idea for RIL when it was trading near a lower trend line and it came to 2000 levels which is also a resistance zone. If it sustains below today's low we can again see 1930-1920 levels.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
NSE:RELIANCE
one can long with given stop loss.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
Stock is taking support at the lower yellow line and creating higher high higher lows. If it breaks the support line then the next support zone is 1840-1830 else we would see 2000 odd levels.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
As shown in the graph, Reliance was taking major support at Trendline AB, but today that line got breached. So the Real thing that, it's a Bull Trap or some good correction is near.
So the reason why I think its a Bull Trap- (Just my thought)
1) No negativity around it
2) Stock already corrected and consolidated a lot
3) Earning is near
4) Big player breaking...
Reliance Ind - Cmp 1947
Looks good to accumulate at current levels with sl 1835 on closing basis.
There is a small resistance at 1961. Safe traders can buy once closing above 1961.
Reason:
1. Favorable risk reward ratio.
2. Positive bullish divergence.
There was a downward trend since last month .there is weakly support at level 1820. you can hold for reversal. Below 1820, it will go until 1600 level. Keep a close watch on 1820 level in coming days.
!!Happy Investing !!!
NSE:RELIANCE
Hello Everyone
As you are seeing on chart wave ((1)) has been completed and currently we are in wave ((2)) which is Developing in form of (W), (X), (Y).
If this movement sustain than in future we will see a wave ((3)).
So this is a good place to invest in reliance for delivery.
This prediction will take time.......may be few month
Thanks
Neowave Forecast
RELIANCE INDUSTRIES .
At Hitting Resistance again & again if it broke the Resistance 2,050 share will go up till 2,110 let's hope it breaks
1st Idea on Trading View Show some support if you like it......
Thank you
