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Relianceindustries

Reliance Industries price action analysisReliance Industries is currently trading at the potential reversal zone (PRZ)/supply zone set by the XABCD Bearish Bat Pattern. In the past after reaching the supply zone, it got corrected until 0.618 Fibonacci retracementent of CD. After a good correction, it is trading now near the supply zone. Since it touched the all-time highs, it never had closed above the supply zone. A daily or weekly(safe) close above 2275 could give a boost until 2307. Sustaining above this supply zone, the price may reach the 2382 level. Go long above 2275 and start booking your profits from 2307-2382 for a safe setup. Place Stoploss at 2256. Happy trading :) This is not an investment idea. Please consult your financial advisor before investing.
NSE:RELIANCELong
by Sanjan91
RELIANCE INDUSTRIESBULLISH VIEW :- If the underlying stock cross over "2350",Its good for the bullish momentum and can be seen as bull continuation started from 2017. NEUTRAL VIEW:- If the underlying stock fail to break the resistance level of "2350" ,It might retest descending line for future support. BEARISH VIEW :- If the underlying stock fail the crucial support of "1830" ,the stock enters a bearish sentiment. MY VIEW:- I see the current consolidation as accumulation phase , there might be a imminent breakout around the corner.
NSE:RELIANCELong
by aftabmk
Simple Trade Setup | Reliance | 30-08-2021NSE:RELIANCE Trade Setup for Date 30-08-2021: 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) If it breaks the RSI trendline on 15min time frame and breaks the trendline on price chart then it will be quick buy entry. 4) All the levels will work as support, resistance, entry and exit w.r.t price action near that level tomorrow. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion.
NSE:RELIANCE
by Trading_hawk
1
RELIANCE BREAKOUTreliance respecting this price action channel from july 28 onwards ( over a month now). there are more than 4 respecting points on the upper and lower side of this price action channel indicates how strong this channel is( i have marked this as yellow circles ). once can make safe entry when breaking this channel ( in 5 min time frame). usually relaince shows a bull trend today if crosses 2236 levels. # if crosses 2236 then be ready for buy entry # make safe buy entry when breaking price action channel # due to high volatility better to avoid trade before 9,50 am. # only for education pupose. thank you.
NSE:RELIANCELong
by Francise_Varghese
2
Symmetric Triangle for RelianceReliance NSE:RELIANCE has grabbed the headlines quite a few times for the last year. The price action seems to be more in action. In the last 9 months, it has formed lower highs and higher lows, thus establishing a symmetric descending triangle. The average volume is also decreasing. (Calm before the storm) The prior trend is a rising trend. Thus, its expected for the price to breakout in the upside after the triangle apex is getting closed. On 29th May, there is a bull flag pattern formation, which could be exploited for short term swing gains. 6th July to 16th August marked the formation of an inverse head and shoulder pattern and that too subsequently broke out on the upside to touch 2200. After this the price is again consolidating, to breakout in the future. Breakout can be known only after they occur, but as the prior trend was an uptrend, we think that prices can breakout on the upside. (This is not a stock recommendation, this is just an analysis of the various Price action pattern with a real time example. Do your own due diligence before a stock purchase. Open to ideas and discussions on the same)
NSE:RELIANCELong
by Robert_Oppenheimer
Simple Trade Setup | RELIANCE| 27-08-2021NSE:RELIANCE Observations: 1) Rounding bottom breakout perfectly worked. And gave good move in last two days. ------------------------------------- Trade Setup for Date 27-08-2021: 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 tommorrow. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion.
NSE:RELIANCE
by Trading_hawk
6
Reliance Industries price action analysisReliance took a correction of nearly 10% from 15th June to 25th July, then made an up move. This correction completed the target of the bearish bat pattern(left side, Moving to the current situation, the price is again at a decisive potential reversal point but being already beaten up, chances of fall are less if spoken logically. There could be a fall also, so be it becomes absolutely important to wait patiently for a trade position. Above the supply zone, all the shorts could be trapped, a short covering move could give a strong rally upside. This is a neutral idea. So there are no targets. Once we have a proper trend, we will set targets. Happy trading :) This is not investment advice, please consult your financial advisor before investing.
NSE:RELIANCE
by Sanjan91
2
Simple Trade Setup | RELIANCE | 25-08-2021NSE:RELIANCE Observations: 1) On 1 hour time frame earlier it had made inverse head and shoulder pattern which we already covered in earlier post . Now it has made rounding bottom pattern on 1hour time frame with neck/breakout line at level 2190. Please refer Chart below: 1 hour time frame. ------------------------------------- Trade Setup for Date 25-08-2021: 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 tommorrow. Please refer below chart for levels. Hope I made it easy to understand it. Do comment your doubt or suggestion.
NSE:RELIANCE
by Trading_hawk
31
Simple Trade Setup | RELIANCE | 23-08-2021NSE:RELIANCE Observations: 1) On 15min Time frame, it is trading in downward channel. Please refer Chart below: 15 time frame. 2) On 1 Hour Time Frame, it is now back to its neckline after giving breakout of inverse head and shoulder. As per theory it should now test this neckline and give bullish move upside. Please refer Chart below: 1hour time frame. ------------------------------------- Trade Setup for Date 23-08-2021: 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) If it breaks out the parallel channel then it will give up move and if it breaks down the parallel channel then it will give down move. If you know the scalping and experience trader then you can do in between the parallel channel with the levels and if you are a safe trader then better to wait until it gives the breakout or breakdown from the parallel channel and then take trade from the mentioned levels. 3) Everything is mentioned on the chart. I hope it is easy to understand. 4) All the levels will work as support, resistance, entry and target w.r.t price action working near that level tomorrow. Hope I made it easy to understand it. Do comment your doubt or suggestion.
NSE:RELIANCE
by Trading_hawk
5
Reliance may breakdown furtherHead and shoulders patterns observed in Reliance Industries with a slanted neckline. The neckline got broken and can be tested at 2100 level. If it fails to rise above 2100 and sustain, we could see a short opportunity with targets mentioned in the chart. The logic has been explained in the chart. Being a Nifty heavyweight, it could drag nifty further down below 15700 levels. As markets are waiting for IT heavyweights results, Nifty seems neutral to bullish. Anyways this could be a short trap. So, please maintain a strict SL of 15 points.
NSE:RELIANCEShort
by Sanjan91
Breakout in Reliance and also How to Find Breakout Trades. NSE:RELIANCE Reliance Breakout: Reliance has given breakout to both trending resistance and A strong supply zone. With a Kind of inverted head and sholder pattern. And has given closing above both the resistance. A short retracement can come but there is less probability of it. Short term targets will be 2250- 2300+ For holding period of 1-2 week maximum. How to fing Breakout Trades: All the people watching my ideas regulaowould notice that I give Trade signals only for breakout Trading. This is because Breakout with volumes show us Institution Entery in the stock. It can be Traced by Following points. 1. breakout of Horizontal resistance and closing above it on day closing basis. 2. Breakout of a Trendline and closing above it on day closing basis. 3. Breakout of supply or and closing above it on day closing basis. 4. All the Breakouts must be done with High Volumes or volumes more than 20 Moving average of volumes. 5. We must buy the stock on breakout but Always consider a Retracement after it, Not necessary that Everytime a Retracement would come but we must consider it. Note :- the Above trade is only for educational purposes please make your own research too before investing We would not be responsible for any profit or loss of yours on this Trade.
NSE:RELIANCELong
by Arshad_Khatib
6
Simple Trade Setup | RELIANCE | 16-08-2021NSE:RELIANCE Observations: 1) On Daily Time Frame it looks like an inverse head and shoulder pattern. And closed at the neckline which is 2145 level range. Please refer Chart below: 2) On Daliy time frame it has also closed above 50MA. 3) Next up level which has open interest addition is at 2160 call option. But an interesting thing is that for 2200 call option there was good short covering seen. 4) On 15min time frame it has been trading in channel. Taking resistance from upper trendline and taking support from bottom trendline. ------------------------------ Trade Setup: 1) If it breakout and test the upper trendline then it will be a buy trade. 2) But if it breakdown the upper trendline then from respective level it will be short trade entry with SL of upper trendline or the upper level. 3) All the levels will work as support, resitance, entry and tareget w.r.t to price action near to that level. Hope I made it easy to understand it. Do comment your doubt or suggestion.
NSE:RELIANCE
by Trading_hawk
3