WEEKLY BREAKDOWN NOT ABLE TO CROSS RESISTANCE TRENDLINE.. SO SHORT BELOW 1795 FOR 1620 and for investment one can buy at 1620.
Breakdown to Trade: 🔴 RELIANCE Reasons: 1️⃣ Bearish Rising Wedge Pattern. 2️⃣ Broke Important Weekly Swing Low. Target : Bearish Rising Wedge Pattern Target : 1596 🚩 Stop Loss: Day Candle closing above 1930
Reliance is currently at a major support level, what it does here will be of vital importance. A break of this level can take the stock down significantly whereas a bounce from this level can take it back to 2000 levels. The best strategy will be to wait & watch at these levels & position yourself after it breaks or takes support.
Reliance looking weak on daily. It has broke down long supportive trend line. Now 1800 is a very key level to watch for. As per fibo and previous supports, 1700 is first weak support and 1600 is a strong support. For RIL become strong, it need to break 2015 level - keep on radar
Highest closing since Dec 10th, Daily RSI is at 54, highest level since Oct. 15. Trading well above major moving averages. Stay long with a stop loss of 1996. Immediate Target is 2016.
Coming to the daily TF Coming to the 4 hour TF Conclusion: If we see the monthly chart and if it's end of wave 5 then there is a lot of fall to come, but predicting nothing we will come to lower tf that is 4 hour time frame chart. If reliance is in Y of WXY then the fall could be till 1600/1400 around. Before going to so low levels, the first few resistance...
Reliance 15min chart indicates that decline from 2120 is looks like an impulsive decline and wave (i), (ii) and (iii) is completed at 2035, 2075 and 1932 respectively and wave (iv) and (v) is pending. 1965-1986 is an immediate resistance range for wave (iv) retracement. reliance may complete wave (iv) in 1965-1986 range and then it may again decline 70-115 points...
Reliance Industries is the top heavyweight on Nifty 50, hence both charts (Reliance and Nifty50) mirror one another over time. This chart compares Reliance Ind vs Nifty 50 and you'd appreciate that the wave count of the higher degree (as well as 1 to 2 degrees lesser) are correlatable. Although, I have been into the equity markets for a while now (since 2005),...
Reliance can be taken at buying area as mentioned on chart entry 1907 SL 1888 Target 1947
Previous quarterly results was announced on 30-Oct Revenue decrease 23% Profit after tax decrease 6% Stock price falling preceding 2 weeks Strength reducing preceding 2 weeks Stock fell from 2054 to 1880 Current quarterly results announced on 22-Jan Revenue decrease 20% Profit after tax increase 25% Stock price rising preceding 1 week ...
TRADING LEVELS FOR RELIANCE INTRADAY. JUST FOR EDUCATIONAL PURPOSE.
I hope you can now see how Reliance represents an excellent low risk profit entry setup allowing you to trade in the market. Take positions so that the risk/reward is in your favor. Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis . Thank You Disclaimer: It should not be...
NSE:RELIANCE if stay above current resistance one long till 2300+ , hv been holding from lower level so whoever gonna take fresh entry keep stop loss as per their trade setup. ******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before...
Reliance Ind Ready to Parallel breakout
Here Reliance is looking strong but facing short term resistance, so be cautious . dont take a trade here. follow the trend. not so good result will test the given support again. (knowledge Sharing only, do your own analysis before take any trade).
RELIANCE BUY ABOVE 2060 STOPLOSS 2000 TARGET 2200 #technicalAnlaysisbyRK #technicalanalyst #technicalanalysis #nifty50 #investing #investmentadvisor #shortterminvestment #intraday #investmentguru #billionaire #millionaire #longterminvestment #Investments #reliance
Double Bottom & Breakout from Bearish Trendline Buy Near 1960-65, SL-1940, Target 1 : Near 1982-83, Target 2 : Near 2003-04, Final Target:- 2020-25 Educational purpose only