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Relianceindustries

RELIANCE - Day chart EMA crossingDaily chart's 12EMA crossing upward of 50EMA, is a bullish entry trigger Two days consolidation after the crossing, is positive. Weak to Strong hand-over took place, those two days Strength indicator got stronger Direction movement indicator biased for up-move. CNX Energy, benchmark index for this stock, also showing strength. Both improved by 12%, MTD month till date, in last 16 days. Fibo levels surpassed swiftly , making probability to go back to Fibo 1.0 level.
NSE:RELIANCELong
by kartikbhai
Reliance Industries ltd.Taking a good amount of support. Movement has been really less from past few weeks with diminishing volume. And these are technically reversal signals. So going long on this stock with a suitable SL is not at all a bad option or foolishness just because we have a bearishness perception regarding the markets. Take the trade, its okay if SL gets triggered, you would end up getting double points on sell side if SL gets triggered. Analysis is a part but taking the trade in the stock is another kind of art. As this an analysis done on EOD basis, have patience while taking position. Don't put all your funds in one price level. Fear of missing out is very common. We need to overcome it. STOP-LOSS would be closing below 1835 which may pull down the stock to 1618. TARGET or EXIT signal will updated afterwards. CHART AND ANALYSIS BY - ADARSH DEY
NSE:RELIANCE
by AdarshDey