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Relianceindustries

RELIANCE INDUSTRIES- Consolidation with Downward BiasRELIANCE undoubtedly is a stock that managed to dodge the market carnage and gained significantly in the last two months. However the shorter time frame chart suggests profit booking and this could continue. The stock can find significant resistance near 1530-1570 levels. Upper range of this level can be used a stop loss and any move towards these levels can be used to initiate short positions. Possible downside targets are marked in chart.
NSE:RELIANCEShort
by binuppaul
6
WILL RELIANCE GIVE CHANCE TO INVESTORS FOR ENTRY SEE HOW ?Price action Picture going in Reliance . 1. Reliance has started the process of Re-accumulation by making An evening star pattern circled in green . This is perfect and activated also. Made on strong zone , there fore , got activated. Since it is process of re-accumulation so It should spend time in this process . When this process is activated by smart money then price forms range . Upper range in form of an evening star pattern has already made . Now price will make lower range . 2. The effect of an evening star has seen in fall can be extended further. See I made red zone If this is taken out up side then lower range will be formed and price will move to upper range in blue zone. On the contrary if price fail to take out red zone then it will move to white zone. some times move goes into extension then yellow zone. For extension same condition price should take out white zone . 3. I have made three arrows showing different sentiments . A green means white zone is not taken out then price will move to blue zone and then red will be crossed easily. Pink means price could not take out red zone so will move to white zone. A red dotted shows down move of extension to yellow zone. This is how price will move in coming days in this stock. 4. Use zones as stop loss and time your trade in direction of taken out and not taken out conditions. These zones should also be used as exit points. 5. Investors wait to form lower range of price either white zone or yellow. Then can board bus to long sides. 6. One of my followers requested for this analysis its for you and all those who trade in this stock . For investors who want to become part of reliance. In this manifestation conditions are important to follow. This is complete package in form of setup trade entry , stop loss and exit. Use with conditions you will be benefited. Rest market will decide. Note . All trading and investing decisions should be taken by consulting your financial advisor. YOGESH VATS
NSE:RELIANCE
by yvatsji
25
joyful trade- head and shoulders pattern on RELIANCE:It is not yet conformed that the stock will move up or go down, wait till it give any confirmation. A head and shoulders pattern is a chart formation with baseline with three peaks, the outside two are close in height and the middle is highest. In technical analysis, a head and shoulders pattern describes a specific chart formation that predicts a bullish-to-bearish trend reversal. The head and shoulders patterns are statistically the most accurate of the price action patterns, reaching their projected target almost 85% of the time.
NSE:RELIANCE
by reshmi_chauhan1
52
Elliott wave analysis on relianceAfter completion of B leg of Flat correction it seems reliance has resumed C leg. Two types of entries are possible in this scenario 1) We wait for retracement of wave 1 upto 61.8% levels and after confirmation intiate short position 2)We enter short after close below the end of wave 1 SL in both case will be invalidation point above which we will have to reassess our wave count. Expected Target for wave 3 will be 161.8% of wave 1 Counts will be updated as the waves are unfolded untill that possible levels are plotted on the chart. Trading is a game of probabilities. Always before initiating a trade wait for the position to reach levels and initiate position after entry criterias are met. This is an educational post. Trade on your own risks.
NSE:RELIANCE
by AmPe_stockanalytics
2
Reliance Montlhy Chart with EMA 55Reliance Montlhy Chart with EMA 55. Reliance is tracking high-growth markets since Nov 2016 and behaving like one of the large-cap tech stocks on Nasdaq. As the stock pivot's into a debt free company, are we going to witness another consolidation period? Today's price action was quite interesting, as the stock tried to scale its previous highs of Nov 2019. The monthly chart pattern has maintained its overall bullish stance despite the sharp fall in March 2020, allowing the stock to retest its pre-Covid highs. If the stock corrects, watch out for EMA 55 supports that are currently a bit away, Daily around 1327 levels and weekly around 1335 levels. Disclaimer: All the index, stocks, futures, options ideas discussed herein, in this presentation, are not my recommendations for the purpose of initiating a trading position. I am not a SEBI registered Advisor. Investments are subject to market risks and you may consult your personal investment advisor prior to making investments.
NSE:RELIANCE
by gvijikum