Reliance reversal setupReliance recently rallied heavily and needed a correction . All time high has been broken and reliance is managing to sustain above all time high with also a harmonic bullish bat pattern of a minor swing and also important fib numbers of different swings . Anything above 2360 levels in RIL is a reversal.
Relianceindustries
Simple Trade Setup | RELIANCE | 27-09-2021 [INTRADAY]NSE:RELIANCE
Trade Setup for Date 27-09-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respsective level considering how price action works near that level.
Simple Trade Setup | RELIANCE | 24-09-2021 [INTRADAY]NSE:RELIANCE
Trade Setup for Date 24-09-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respsective level considering how price action works near that level.
Levels for - 22 Sep 2021 EXPLANATION : This is a 15 Min time frame chart of RELIANCE , It has been in a consolidate for days and has formed an Ascending Triangle Pattern . If give a strong breakout and broke its supply zone with high volumes and retest the same , I am bullish on RELIANCE . If stock break the trend line we plan to short , downside levels marked in chart .
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RELIANCE INTRADAY FALLING CHANNELReliance after a big fall, is stuck in a falling price channel . Good move on either side (short or long) could be achieved after the breakout of this price channel .
Entry should be initiated if reliance gives closing of 15 mins candle breaking the channel . No entry should be taken if reliance takes support and comes back into the channel without giving closing outside the channel.
The targets for upside and downside are given in the chart and trailling stoploss should be used as we achieve our targets.
This is an intraday trade and not a swing trade .
Simple Trade Setup | RELIANCE | 17-09-2021 [INTRADAY]NSE:RELIANCE
Observations:
1)On Daily Time frame: we can see that the retracement is over now and today it gave good bullish candle as a reversal. Now it will go continue it's bullish trend.
Please refer below chart : Daily time frame.
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Trade Setup for Date 17-09-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL.
buy above given levelEnergy sector looks bullish.
Reliance being key component of the sector should be the driving force.
Reliance has been trading in range of 1800-2300 since last august. With current scenario of nifty making new highs, it wont be left behind and should create new high to remain in sync with market.
Following signs have been observed in Reliance daily chart
1. SuperTrend buy signal in daily chart.
2. EMAs are in support and converging.
3. RSI above 55
4. MACD crossover already in place
Buying price, Targets as mentioned. SL 2064
Reliance Demand , Zone below Zone. Good for Swing Trading Reliance Demand , Zone below Zone. Good for Swing Trading ,
A good 1:5 Reward to risk can be Expected on this Trade Setup
Entry above the zone and Stop loss below the Zone.
if above demand zone violates (breaks) then take entry on the Below Zone.
Disclaimer:
Above Stock Analysis is based on Price Action , primarily on Institutional Demand and Supply .
It is for Learning and Understanding Purpose.
Even after a thorough research and Analysis a setup can fail due to any opposing News on that stock or on its Index and Market Volatility.
Hence ,kindly Take Position as per your Risk Management.