FOLLOW TRADE AT YOUR OWN RISK
Reliance is moving well within a narrowing channel, Try to buy near 1465, with a stop loss of 1460 and targets of 1489-1511.
PLEASE FOLLOW CHART TRADE AT YOUR OWN RISK
As you can see in the chart reliance Is strongly bullies monthly as well is weekly so you can buy it and target is 1600 and above so on Best of luck traders and investors you take a diamond
IT IS NEAR TRENDLINE SUPPORT AS WELL AS 50% FIBONACCI LEVEL STOP LOSS IS 1343 TO GO LONG
Will it retrace to 1.41 / 1290-1300 Price? Retracement just above from 1.61 start.
ONCE A TRENDLINE IS BREACHED ON CLOSING BASIS IT BECOMES SUPPORT NOW AS WE SEE WITH BLUE LINE STOCK TOOK RESISTANCE 3 TIMES AND FINALLY BREACHED UPSIDE AS SEEN WITH ARROW THEN BECAME SUPPORT BUT NOW AS SEEN WITH ELLIPSE STOCK IS TRYING HARD TO TAKE SUPPORT AT THIS TRENDLINE WHICH BECAME SUPPORT PREVIOUSLY IF IT BREAKS IT ON CLOSING BASIS STOCK WILL FALL TO 1485...
We see that reliance is at a longer term support on the daily chart. After the earnings that stock has been melting like ice on fire. The RSI has moved into an oversold zone, so a small bounce is not ruled out, the quantum of bounce back will decide the future of Reliance Industries. MACD is into bearish zone, pullbacks may find resistance at 1455, 1480 & 1545...
Currently its weak on the charts small support zone near 1512 next support 1486-87 Can be range bound situation also from 1512 and 1550 . Any further breakdown will only decide the move.
reliance short term technical analysis...with trend line and support and resistance and direction indicate that through arrows
Reliance consolidated at day high and is at quite imp psychological zone of 1600, If the momentum continues upside CZ , one can go long per it as per Setup taught Short setup only on breakdown from CZ + Up TL
Reliance industries Ready to boom again for the gains . As far result is also good likely to take 1620 and more. Do check our previous chart and result :) and follow us - for some good gains. Twitter - @TheSachinJain ( most active and keep posting live stuff ) telegram - @tradingbud
Since couple of weeks this mammoth was taking a nap, today’s price action seems to wake it up. A bounce from the support area with a bullish candle is indicative of the underlying strength in the stock. The RSI is into bullish zone and MACD too into bullish area taking support on neutral zone. The momentum is turning up in the coming sessions the stock is expected...
In the previous idea, it was suggested that below 1498 we may see further fall. Since it didn't go below 1498 we can expect a reversal. It was already mentioned in our TG channel that if holds above 1525 we will see up move. Now floating above 1541 we may see 1577 and 1620 positional as well. Regards, Sharma Yogesh
Last 10-15 days(25 Dec - 6 Jan) it is trying to break down through its support line and now below the support line(Support line from 20 Nov - 24 Dec Approx) . If it breaks Fibonacci Retracement uptrend line , which it is about to and is very close to it . It can break up to 1500-->1450-->1400-->1350 . Also the MA 50 is about to cross above 9 MA which supports the...