RELIANCE - Ichimoku Bullish Breakout Stock Name - Reliance Industries Limited
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 2255
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
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Relianceindustries
Reliance short term trade strategy !!Reliance has broken its resistance as per 15 min timeframe chart and it is now ready for long.
One can long Reliance once it is started trading above 2500 the short term targets for Reliance are marked in dashed line on the chart above.
take entry on 5 minute candle closure basis at around 2500 for the targets 2510, 2520.
Reliance - Formation of Bullish hammer at supportNote: This is for educational purpose only. I am not SEBI registered. So please consult your Financial Advisor before investing.
There seems to be formation of bullish hammer in Reliance at support levels. Moreover, the RSI and Relative strength indicates bullish momentum as well.
RELIANCE trade planReliance industries is looking good for a short from current price for a short term duration(need good breakdown retest on daily time frame else invalid) , towards targets of 2350-2340 levels which is a major support zones , and a positional long can be considered from same levels with small SL of 3-4% and potential bigger reward on the upside
RELIANCE - INVERTED HEAD AND SHOULDER'S PATTTEN - 2 HRReliance is showing a bullish crossover of 20 EMA and 200 EMA from below. RSI 78 indicating high momentum with rising volumes. However below 2325 it will be weak. The target as per height of the pattern come at 2639 but it may face resistance at 2491
Reliance weekly chart saying somethingOn the weekly time frame then stock is making hanging man pattern from last 2 weeks which is a negative sign of price action.
I am looking for correcting in the script till 2051 that will be value buying zone.
Closing above 2400 on weekly basis will open up more up side target.
#Reliance downtrend movement with risk:reward 4#Reliance downtrend movement with risk:reward 4
Symbol: Reliance
Time frame :4-hours chart
Analysis breakout from the symmetrical Triangle
Downtrend Movement
Checked the conditions for moving average, RSI and volume
Sell at 2196 with this stop loss 2295 and target 1830
HOPE our analysis is adding value to your Stock market trading Journey.
NOTE: Published Ideas are for ‘’EDUCATIONAL PURPOSE ONLY’’ trade at your own risk.
NOTE: RESPECT The risk. SL should not be more than 2% of the capital.
Happy Trading
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