Relianceindustries
RELIANCE: LOOKING POSITIVE AHEAD OF AGM 2021All eyes are on Reliance's second virtual AGM that comes in the backdrop of world's worst coronavirus outbreak. India’s most valuable company is expected to give a glimpse of its 5G rollout plan, possible listing of its digital unit and a cheaper smartphone being developed with Google and many more.
Technical view: Bullish Flag Pattern, Trading above all SMAs RSI, ADX, MACD are Positive, Valuation is cheap as Stock price < 2/3 Tangible book value per share.
Disclaimer: I am one of those stock enthusiast who loves to trade, i am not an expert, the charts i post here are my records and practice. I reserve the right to be wrong.
RELIANCE : Result day : BIG Day Reliance closed in negative today and in weekly candle in inverted hammer.
Tomorrow is AGM for Reliance and as per chart, its making Flag & pole pattern.
We may see some SL trapping tomorrow and then breakout......
Reason :
> Near to support of Flag
> Monthly RSI is 78...one push needed to move RSI up
I might be wrong as no one know....but but but.....Lets see tomorrow.
Share your view also.
This is only for educational & learning purpose
Reliance Long after 2367 ...ready break above accumulation zone.NSE:RELIANCE Reliance ready to break around 40 weeks accumulation zone,at resistance level 2367 if breaks out above this level and sustain then it ll bullish for coming months..RSI is also around 60 and forming rounding bottom pattern which bullish continuous patter in weekly timeframe.
its for eduacation n analysis purpose only..its my personal view so dont trade on basis of it. consult your financial advisor before taking any trade.trade on your own risk.
Reliance View before AGMAfter too many days of consolidation of Range
Trying to step out of that range
Accumulate here for upside Targates of 15 to 20%
And SL should be closing below 2100 twice in a row
Time Frame for this trade is min 4-6 months.
One more reason is as per my thinking is IT is overbought ,Metal not supporting, Banks were neutral to uderperform mode.
Then who is the strongest contender to Hold nifty at higher level... None other than #Reliance
Note- AGM is in same week so trade carefully.