Relianceindustries
RELIANCE INDIn Reliance RK's momentum sell signal is already activated on daily chart, and yesterday finally it break down from that rising channel, and today we closed below 20dma along with close below RK's stop line which is at 2635, now we can say that yes we are in bearish phase.
As per Elliot wave structure also, wave E of the ending pattern ended in april and fall was wave i and recent bounce was wave ii and the next move that has started should be wave iii, which can go towards south direction where the lower end of the wedge is near 2300 and if wave iii is going to be equal to wave i, that level is near 2335, these are the possible levels to watchout for.
MACD in daily negative crossover
macd in weekly down tick
RK's momentum turned negative on weekly
rsi on daily down tick
price below 20 dma
RK's momentum sell signal activated on daily chart
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Reliance Stands for Blast in 1hr TFHello Friend's, 🤗🤗 This stock is mostly suggested for 14-06-2022 Intraday players. As we can 👀 that what is happening with Reliance Industries. In keep of mind of today, we will ready for both side. We are ready with global🌎 sentiments also. We will go to buy side when stock cross its price 2681 &substain above min 5 to 10 minutes. With the accurate target🎯 of 2700,2730. But if reliance crosses 2610 &substain below then we will go to down side with the accurate target🎯 of 2590,2560. Our view🧐 is totally on both side. In fact it is the leader of all industries. So friend's, 🧐Don't forget to add it on your watchlist.
Have a nice day traders👍👍 🤗🤗
Reliance Industries Rising WedgeRising Wedge is a downtrend continuation pattern.
In this case it breakout upside , But it can be fake breakout ,
so if reliance coming down below 2680 exit from long position.
You can also create short position with stoploss of latest swing !
IGNORE IF HOLDING ABOVE 2680 !!
#Reliance Swing Target NSE:RELIANCE
Reliance resistance level ( target ) is still far from current level so whoever already in swing trade cdan hold it with trailing stop loss ones reach at PRZ and finreversal then only book long and one can short as well from there.
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called PRZ, From That Dash Line To that Horizontal Simple Line Area Is Whole PRZ(Price Reversal Zone).
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.