Reliance is coming out of the Accumulation zone, the range which was created 60 days ago. There is an expansion of volume on the Breakout with a good Bullish candle. There is also a break of structure since it created a higher high. It may retest the 2050 area on lower time frames. Every dip can be seen as a buying opportunity. Targets: 2200, 2350 You are...
RELIANCE Buy- Above 2250 SL- 2150 Target- 2370 2520 2700 2900 Duration- Mid Term Holding Short Term traders can also enter and make profit. Short Term trader will book profits @ 2515 . It will correct a bit from this level. That is Short Term PRZ.
- Price action - RSI Divergence - Import levels marked in chart , Use pivot for target
its gonna be a bullish day for reliance. the buy entry point is mentioned in the chart buy above only if it closes above it. targets 1,2,3 are given. stoploss can be placed below trendline. the ideas which iam giving here is meant for educational purpose.if you like my analysis like,share and follow me for daily intraday analysis.
- Simple price action - Trend line play role as support + 50 EMA Support , if they can break down we see over here good fall - Important levels marked in chart ( use pivtos for traget )
Reliance ind. important levels looks like gonna fall sortly...
as we can see a small harmonic pattern completed at .886 and stock made red candle here . Though candle surpassed this level but eventually fell .Now if interim support is broken on candle close basis we can buy at 2045 which will be best to buy in cash. And if interim support is not broken we can see upside directly from here till 2492(Another harmonic pattern...
looking strong above -2199 for the targets of T1 and T2, SL-2188 Sell below -2181, for the targets of T1 and T2, SL-2192. trade will remain void if open gap up or gap down (big).
- Price action - Support zone marked in chart if break down wait for retest - Use pivots for target
i know that you are in a doubted state bro remember I learned forex and masterd it and stock is very very very easy comparing to forex its 1000% easier to control lets see if my stop hit for buy 126 points remember I know If my stop hitted 126 then my massive big quantity sell stop order will be placed (I am like Harshad metha, but instead I am using my own money
- here we simply trading simple price action - Good for buy break trend line
Reliance is forming shooting star after a great uptrend, this means that stock can take a uturn soon. Shorting opportunity for a target of 2100 in 20-25 days.
After Few fake Breakouts, RIL is again on the levels of 2240, forming a Cup & Handle Pattern with High Volumes.
- Reliance important levels marked - 2160 Strong Support area and 2032 Strong Resistance area marked in chart - Use pivots for SL & Target .
Reliance is doing its best to end its consolidation. Typical behavior at such resistance levels. Should be at a new all time high soon.
Lets have a look at Reliance Industries Daily chart and you can see the base formation on Reliance Chart between 1850 - 1900 levels. Last to last week we have updated Reliance Trade Set Emerging and suggested buying zone between 1900-1950 levels with a stop loss at 1878. Now its follow up update and we can see Reliance Industries 2206-2374 and once break above...