ENTER SHORT IN RELIANCE FOR 1400 LEVELS ENTER SHORT IN RELIANCE FOR DOWNTREND
SL LEVELS WILL BE AOUND 1435-38
IF DID'NT CLOSE ABOVE 1435 STOCK MIGHT TEST 1380-1400 LEVELS.
Relianceindustries
Inside Bar - Consolidation in 4 hourWait for the opportunity, Let it decide the direction. Finger crossed. Closely watch the level as mentioned in chart.
RELIANCE KEY LEVELS SUPPORT AND RESISTANCE 29/04/2020Key Levels for RELIANCE :
UPPER BREAKOUT~1447.35
FIRST TARGET~1467.45
INTERIM RESISTANCE~1488.60
FINAL RESISTANCE~1506.90
LOWER BREAKOUT~1416.15
FIRST TARGET~1394.10
INTERIM SUPPORT~1372.95
FINAL SUPPORT~1354.35
My views are for educational purposes only.
Please trade with caution and consult your financial adviser before trading.
GANN FAN : Shift in channelThere is a shift in the GANN channel. I think it should move in my marked area (TWO BLACK TRENDLINES)
45* is the best suitable angle for Reliance Industries
Gap at Rs 1260 should be filled soon.
Reliance industries Reliance industries completed the uptrend 1.618 is over and now has to take a dip down
RELIANCE BEARISH BUTTERFLY UNDERWAY- HARD WORK WILL PAY OFF.786 RETRACEMENT VALIDATES THAT BUTTERFLY IS UNDERWAY AS IT TODAY LEFT WICK AT .786 LEVEL IT IS VALID
NIFTY50 KEY LEVELS SUPPORT AND RESISTANCE 27/04/2020Key Levels for NIFTY50 :
UPPER BREAKOUT~9227
FIRST TARGET~9274
INTERIM RESISTANCE~9325
FINAL RESISTANCE~9384
*****************************
LOWER BREAKOUT~9135
FIRST TARGET~9095
INTERIM SUPPORT~9092
FINAL SUPPORT~8958
Please trade with caution and consult your financial adviser before trading.
Completion of Triangular Pattern & Strong RSI Divergence In my previous post, I have shown that NSE: Reliance Industries forms triangular patterns on daily chart.
Today Reliance opened gap up & completed its another triangular pattern. (Black dotted lines)
This Gap will be filled as Reliance never leaves a gap unfilled.
RSI gave a bullish divergence in mid-march 2020 which lifted Reliance by more than 55 %.
Currently, there are two possibilities:
1.) Reliance moves back to the previous price channel - Parallel channel. (Red Lines)
-> As RSI has given a breakout of 60 zone.
2.) Reliance may move to lower levels (R1 @ 1362) & fill the gap.
-> Low Delivery (23.26 %)
--> Option Chain
1300 - Support
1400- Resistance
RELIANCE UPSIDE NOT QUANTIFIED, FALL JUSTIFIEDTechnically, Reliance is in a downtrend still. Given the 2 news updates on 21st and 22nd April, 2020; the stock has shown Bullish Divergence but the %Delivery against the Traded Quantity stands at 23% which indicates an Unstable Upswing. This also coincides with Harmonics PRZ (not highlighted on Chart) range of 1360-1390
22/04/2020 Closing 1363 Spot. Little Upside Steam Still Left in Reliance upto 1385-1400 range.
Short at 1370-1400 Range with SL as 1440 for Huge Downside Targets
Note: Any views expressed here should not be relied upon as advice or construed as providing recommendations of any kind. Strictly for Educational Purposes. All trading strategies are used at your own risk.
Reliance - A perfect inverted pyramidPerfect inverted pyramid shape. Time to go long af NSE:RELIANCE ter closing above 1230.
Reliance IndustriesRecent News bulls the Reliance and Market also...Last 2 hours some pull back trade....
Oi also decrease shows short covering....spectator book their profits at open...
Play Accordingly...
Do your own analysis...
Blue line target...
Reliance Showing a big up move with a target of 1300.There's a very big relation between the price action and volume. Sometimes we see there's a breakout in the chart but later it comes out to be a false breakout, reason being low volume. Here in reliance we can clearly see a breakout with big volume which can take a stock upto 1300 within 2-3 days. Buy at cmp with a stoploss of 1166.
