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RELIANCE REVIEW-23-07-2021 | Levels and Target 26-07-2021NSE:RELIANCE Review Today, 23-07-2021, Reliance opened with gap up to trap trader with bullish sentiment. And couldn't able to hold even above 2110 level. But the good thing is, on daily chart it took support from trendline and also closed above 21DMA. This level above 2100 will be immediate support zone for RELIANCE. After that it has support zone at 2075-2080. Bearish trend will start only above this range 2075-2080. Above 2100 it has strength for bullish trend and above 2127 Bullish trend will be strong. Levels and Target for 26-07-2021. Since today it will have Result, so if market loves the result then on Monday it will definitely go wild. But as a trader we have trade in our pre-decided strategy and with entry levels and target. Bullish trade entry can be made only above 2127. And also avoid first 20-25 minutes to enter in trade. Otherwise it will happen like today, it will give gap up opening and trader will jump in to buy trade. Never chase a gap up opening. Let it get settled for 15-20 minutes minimum. Hope my trading ideas are helping you to understand price action and levels. Do comment if you have any doubt.
NSE:RELIANCELong
by Trading_hawk
8
Reliance bought Justdial Follow me on trading view: in.tradingview.com We have good news lets see how to trade it on charts with proper risk management rules and setups :) 👑 Terms used if you don't know : ✣ Contraction pattern: A pattern starting with a broadening high candlestick and low candlestick and converging to a fixed point, these highs and lows created in between them are bulls vs bears fight going on inside the pattern and if it comes to the lower part of it, surely bulls will take it to the topmost point and vice-versa until one of them wins ✣ Structure and trend: Two types of trends that exist in the market today are uptrends and downtrends. Each type of trend tells a different story and has its own impact on a trader's success in the market. While uptrends show a series of higher highs and higher lows, downtrends show lower highs and lower lows ✣Breakout: Breakouts are commonly associated with ranges or other chart patterns, including triangles( HERE WE WILL SEE THIS ONE ), flags, wedges, and head-and-shoulders. These patterns are formed when the price moves in a specific way which results in well-defined support and/or resistance levels. Traders then watch these levels for breakouts ✣ RSI DIVERGENCE: A bullish divergence occurs when the RSI creates an oversold reading followed by a higher low that matches correspondingly lower lows in the price. This indicates rising bullish momentum, and a break above oversold territory could be used to trigger a new long position. ✣ Supply/ Demand: In the supply zone , the prices are higher than the bid price, and in the demand zone , they are lower. The bid price is what a trader is willing to pay for a stock 👑 Important levels - explained well 👑 Comment your thoughts and queries regarding anything on this analysis of mine, feel free buddy :) ⌛ Motivational and psychological area ⌛ ✣Trade only if you are in the right mindset, if you have been emotionally weak for some time, take your time and don't trade, trade with a happy and + mindset only. ✣If you want to make money, firstly be prepared to lose it, only that much which you can afford and that much by which you can make a mistake again, learn from them and grow ✣Don't lose hope and keep grinding ✣I have seen my friends on youtube streaming games with watching 10, constantly they streamed for a year or two and now they are buzzing with 1k to 2k watching daily. ✣Focus on the process, you are here to make money not stupid decisions and lose it all ✣No one will help you climb the mountain, few will tell the path, so follow good people, make good mentors and make good decisions and choices in the stock market. ✣Believe in yourself :) 🎓🎓 Some info about me :) ➼My name is Apoorv and I am a 2nd year Engineering student, I want to pursue trading as my career, and thus whatsoever setups or trades I potentially see on my charting platform, I post it here and share them with you all. ➼I hope you will love my simple analysis style. ➼Feel free to suggest your view on this as learning is earning here :) ➼I take my trades on my Zerodha account :) ➼I don't take all the trades I post ➼These charts are my and only my work, my thought process, just from an educational point of view and no calls.
NSE:JUSTDIALLong
by Averoy_Apoorv_Analysis
5