Reliance Industries Ltd currently trading at 1203.75 spot as on 17th Aug 2018.
After reaching its 52 week high at 1231.7 on 9th Aug 2018, The stock made a possible pullback (low at 1182.7) and currently trying to break on upside. Price is making higher lows considering the previous rise (from 1112.5 to 1231.7) followed by pullback (1231.7 to 1182.7) and...
In the last two months, the stocks that have contributed the most to the nifty bull run are reliance industries, hdfcbank and tcs. The results of Reliance Industries were ok but does not justify the high valuations the market has given to it. The short-term trend is way above the yearly trend of this stock and it looks ripe for a correction. On Friday the stock...
The 5 legged impulse to the upside looks almost complete and hence should be followed by a corrective decline which can take Reliance to a minimum of 1080 and possibly even lower levels.
Stop Loss above last swing high 1140.
Due to bad resolution picture might confuse. Image below
Recommendation is sell. Based on technical analysis I predict it will go down with and follow 65 Degree down trend. Based on today (17th July) it might appear other way around and most individual trader might like to enter Long position. This is exactly big fish wants....
Reliance cmp 916 Initiating positional shorts in reliance with stoploss above 934
Trgt 880 approx
all prices spot
trade instrument june futures
trade quantity will be less than usual because of lack of direction in index
positional trade carries huge overnight risk -
NOT for small traders with capital 1-2 lakhs .
Might not update trade in real time so...
Based on my PredictiveSystem's signals, today (10-May) its going to be a GREEN candle for RELIANCE
Buy above: 979.1
Stop loss: 971.3
Note: These calls are based on my own analysis. It may or may not work well for you. So please carefully consider whether it is suitable for you and please do your own research before...
Reliance has completed 40 years.
Mukesh Ambani said to bring company among top world 20.
Reliance may open with gap up and may trader higher with target of 960.
JIO crossed 16 crore customers. Which accordingly monthly average of 150 rupees gives 28800 crore revenue yearly.
Reliance to innovate in new materials.
Often we see situations like above chart where it is difficult to decide which trendline is correctly drawn. Truly no one can actually tell which trendline is more correct than the other. And Is it the break of AB or AC or DE which should be considered to take the trade?
When ever there is such a situation, it is wiser to give secondary importance to these TLs ....