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Relianceindustries

10 Jan ’24 — 163pts pullback from a wedge - Nifty50 goes neutralNifty Analysis - Stance Neutral ➡️ Recap from yesterday “Interesting price action formed at the current levels. Seems like where we are right now is a crucial support/resistance zone that could decide the next trend. Our call of bearishness will continue until N50 can break through the channel top line.” 4mts chart link Even without breaking the upper trend line, we had to change the stance from bearish to neutral today. The ball was in bear’s court today and they did not score. A small falling wedge pattern created a short squeeze that took N50 161pts ~ 0.75% higher. Credits to RELIANCE that contributed to ~ 40pts today. Momentum is everything in a trend, we will wait and watch how Nifty50 reacts to the expiry day tomorrow. 63mts chart link The last candle which is strongly is GREEN is standing out. Looks like the 21491 support is respected for now. If we fall below that tomorrow, we will not hesitate to switch back the stance to bearish. What the dominant animal is tomorrow - bear or bull is totally dependent on the opening 15mts.
NSE:NIFTY
by viswaram
Big Bullish Breakout in Reliance InfraA Bullish Breakout of Flag and Pole pattern is visible on the Daily chart of NSE:RELINFRA MACD will gave Positive crossover on Daily and already given positive crossover on Weekly and Monthly chart. So, expecting the momentum to continue. One can create a fresh position in the scrip as per the levels mentioned on the chart. Risk Disclaimer: The information provided in this analysis is based on my personal interpretation of market conditions and the available data at the time of writing. It is advisable to seek advice from a qualified financial professional and to conduct your own research before making any investment decisions.
NSE:RELINFRALong
by raigvivek
20th Dec ’23 - BankNifty falls 967pts - stance is now bearish 🐻BankNifty Today Analysis It all started with BankNifty today, the options flow was indicating immense bearishness. But Nifty50 options flow was showing strong bullishness. This contrasting directional bias barely works in our market. And 9 times out of 10, Nifty50 mends its way to go as per BankNifty’s directional bias. The reason is, BankNifty is still the leader of the pack. 4mts chart link - click here So first, the collusion again with NiftyIT to get Nifty50 to get to a new top and then a meltdown. BankNifty shaved off 967pts intraday after getting a gap up open. The candle at 13.27 ensured we were re-entering the ascending channel. Just like we discussed yesterday - the directional move came and we were not caught off guard. You might have guessed when we went short today, yes as soon as the ascending channel top line was breached. The ensuing momentum gave us confidence in the bearish bets. What was more surprising was the breach of the bottom line of the ascending channel - I honestly did not see that coming. 63mts chart link - click here Technically Banknifty has not moved that much today, we just dropped 0.89% compared to 1.41% of Nifty50. There were some outliers today, ADANIENT -5.35%, ADANIPORTS -5.76%, RELIANCE -1.21%, LT -2.3%. And the subsectors were all in RED. I seriously do not know if it is a serious correction phase as the runup so far has been like a dream. The chances of something happening like this were quite evident today. BankNifty options premiums were screaming bearishness - I thought it was because of the expiry. And Nifty50 was showing strong bullishness. I bet my money on Nifty as the options prices were more rational as it was not expiry related. But since the BankNifty’s premium’s were not dropping - It gave me the warning shot. Quite fortunately was able to catch the top and low of a few strikes correctly. Also was able to switch between BN and N50 strikes quite seamlessly to take advantage of the mispricings. Who in the world will believe 22700 CE of Nifty50 had a premium of Rs3 for 1 DTE i.e. a strike 1500pts above spot?
NSE:BANKNIFTYShort
by viswaram
A Potential Bullish Reversal on the Horizon for RelianceNSE:RELIANCE : Anticipating a Bearish Phase Followed by Potential Bullish Resurgence Reliance Industries may face bearish trend with an eye on future Bullish Opportunities. Recent market structure mapping, however, suggest a potential bearish phase for the company, prompting investors to reassess their positions. While challenges loom in the short term, astute investors may find solace in the prospect of a bullish resurgence on the horizon.
NSE:RELIANCEShort
by Ami8singh
Reliance LongPlease note that I'm not a financial advisor, and investing in the stock market involves risks. It's important to do thorough research or consult with a financial professional before making any investment decisions. Reliance Stock Today at 2399 Rs. Better Risk to Reward Entry Condition Entry with 1/2 Quantity Stop Loss Below 2280 on Day Basis If Stock Cross Above 2475 Again Enter With 1/3 Quantity Trailing stop loss to Entry Price Wait for Target 1 and Target 2 Keep an eye on ADX on 4Hr Time Frame for Profit Booking there has been a consolidation over four quarters, which might indicate a period of stability before a potential breakout. Remember that market conditions can change rapidly, and past performance is not indicative of future results. It's essential to stay informed about the company, market trends, and other relevant factors that could impact the stock. Additionally, make sure your position size and risk exposure align with your overall investment strategy and risk tolerance. If you're not familiar with any of the terms or strategies mentioned, or if you have doubts, consider consulting with a financial advisor who can provide personalized advice based on your financial goals and risk tolerance.
NSE:RELIANCE
by CapitalGain360
1
Reliance long positional viewHello Traders and investors, As we can see the reliance was consolidated in a range by last two years after bullish rally, may be now reliance is ready to fly again as per technical analysis. A proper range bound zone and we can see the supply and demand zone as range of last two years. A proper downtrend channel pattern and trend line breakout happening in current scenario. So we can assume 6th back to back target as per chart view or historical data. Entry = Above 2350.55 Stop loss = 2299 Target = 2413--2494--2580--2698--2827--2975+++ Disclaimer = This is an educational purpose post not as trading recommendation, Trade at your own risk.
NSE:RELIANCE1!Long
by chazzsen
Reliance MILESTONE view ( Super CHANCE)Hello Traders and investors, As we can see the reliance was consolidated in a range by last two years after bullish rally, may be now reliance is ready to fly again as per technical analysis. A proper range bound zone and we can see the supply and demand zone as range of last two years. A proper downtrend channel pattern and trend line breakout happening in current scenario. So we can assume 6th back to back target as per chart view or historical data. Entry = Above 2350.55 Stop loss = 2299 Target = 2413--2494--2580--2698--2827--2975+++ Disclaimer = This is an educational purpose post not as trading recommendation, Trade at your own risk.
NSE:RELIANCE1!Long
by chazzsen
Short-Term Trading Opportunity Alert: Reliance in FocusHello Traders! I’ve got my sights set on Reliance for a short-term trading opportunity. Before you dive in, here’s what you need to know: Analysis: On the daily and four-hour time frames, we’ve got an intriguing pullback opportunity that could lead to some upward movement. Caution: Keep in mind, the overall direction of this stock is bearish, so tread carefully. Trading Opportunity: If you’re keen to seize this chance, consider a long position from the indicated levels. Derivative Traders: For those in the derivatives market, keep an eye on 2200 or 2300 CE options for November expiry. Risk Management: Always set stop-loss orders and be prepared for fluctuations in the market. Takeaway: This isn’t an investment opportunity but a short-term trading play. If you’re comfortable with short-term moves, this might be your playground. Your Strategy: What’s your take on Reliance? Planning to hop on this ride or staying on the sidelines? Share your thoughts below! Stay Informed: Follow for updates on this trade opportunity and more. Happy trading!
NSE:RELIANCELong
by AlphaTradingStation