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Relianceindustries

REPORT OF STOCKS ANALYSED ON LAST WEEKEND PART-1RELAINCE INDUSTRIES In last post I gave two dotted lines one red and second yellow. What i mentioned quoting '" IF red dotted line is taken out on smaller time frame of 1 hr then then you will see rally to red line in coming days." you can see lower yellow dotted line is intact and price breached upper red dotted line but not taken out on either 1 hr and daily time frame. If tomorrow it fulfill this taken out condition then see rally . on the contrary yellow dotted line is taken out the this scrip can be range bound. bullish engulfing pattern is activated now. SBIN In last post I mentioned is quoting " those who want to enter long they should consider red dotted line as sl and get get long side position till that dotted line is breached." you can see in two days bnf gave big volatile moves but price did not even come closer to red dotted line. Today it breached green dotted line but not taken out. Now scenario is little different Those who are long can be long till pink sloid line is taken out on 30 min timeframe. And those who want fresh entry in long side should wait to go long when green dotted line and pink dotted trendline both are taken out on 30 min timeframe. Those who are not aware of taken out condition they can see attachment where I discussed in detail. HDFC BANK In last post I mentioned is quoting " now to invalidate the effect of this pattern further price have to take blue zone out on 2 hrs tome frame.only then reverse sentiments will apply." You can see I was taking of week structure of hdfc as compare to Icici bank because of an evening star pattern and told you the condition for discontinue the effect seeing to down side for last couple of days by fulfilling the condition of blue line. But two days trading after my post the effect of an evening star is neutralize by the bullish harami which I circled in white. And today candle activated it for long side. Now long can be initiated with the sl of red dotted down side line slightly below it. Because blue upper line condition I mentioned in last post is not fulfilled. So I suggested this sort of sl with the target of red channel upper band. Rest market will decide. YOGESH VATS Note. To better understand compare with my previous post of these scrip. All trading positions should be initiated by consulting your financial planner.
NSE:RELIANCE
by yvatsji
22
Reliance is back in bullish Trend to make new ATH?As we saw yesterday Reliance took a dip to 1564 region which was Target 1 and bounced exactly form support to break the previous ATH of 1620 and made a new high of 1626.70, which brings back reliance in a bullish trend. As on 16/06/2020 if reliance opens in positive and holds up to previous days gains, Buy Reliance above 1627 with SL of 1623 with a long term target of 1735. If Reliance fails to hold 1600-1595 Short Reliance below 1590 region with SL of 1595 will be the targets will be downside region supports mentioned in the chart.
NSE:RELIANCELong
by yeshuyesh45
RELIANCE IS READY TO GO IN UNCHARTED TERRITORY SEE HOW !! HI Traders/Investors, Two week ago I posted my analysis on this stock giving conditions for trades . Let us see reliance followed which and how ? In point no.3 " A green means white zone is not taken out then price will move to blue zone and red will be crossed easily." See price did not even dare to visit white zone and see red is crossed easily. I did not use taken out for red zone instead use crossed easily. That is the beauty of words I use in my conditions to manifest next move prior it happens. I could use these words because I know where structure can change and respond. All my charts are full of these examples. More than 140 ideas are corroborating this fact. That is why I say many times the words I use should be seen in that context. People miss them and go wrong. Those understand earn a lot. Bad trades and good trades are written regularly in nifty and bank nifty post comment box by traders. Even those who trade in stock they also write both trades, many of them accept their fault to understand the word in right context. Now I circled a pattern called bullish engulfing which is not activated yet But the beauty of this you will not be able to see in any books . I tell you the characteristic of this . See a big bull candle covered the last three days small candle on good buy zone with good volume Its effect would be seen if red dotted line is taken out on smaller time frame of 1 hr then you will see rally to red line in coming days. If not taken out then and this pattern low is taken out on smaller time frame then good fall . When this sort of pattern are failed then fall becomes worst. I try to provide practical knowledge when i get that sort of setup.In every post first I prove my statements then I write manifested move. Not like others given target missed new target. Basically they don not know stock market is language of probability which they do not use in their analysis. I know this statement of mine will hurt their ego instead of learning new concept some of them to satisfying their ego to troll me taking out silly points that my charts are very cluttered. In my life I appreciated the people who taught me new concept to attain this level. So my dear friends rather than to depend upon machine signals train your eyes and mind to find structure market is performing. There are many who are good but this is for those who not egoist rather good seekers. Sorry for this offence. You are not my competitors rather co-analyst. Please think over it.Rest market will decide. YOGESH VATS NOTE- All trading and investing should be done with the advice of your financial planner.
NSE:RELIANCE
by yvatsji
18