Reliance seems to be bouncing off after unsuccessfully trying to go above the 13 period EWMA. The selling might continue for 1 or 2 sessions. Sell Reliance below 1327 stop 1338 target open
Reliance Industries might move towards 1340 in the coming week and hence a sell on rise could be warranted. Need to adjust the SL as per the Entry price.
RIL has given a breakout above 1329, faced resistance at 1388 and came down. Now it's moving upwards again and ADX is above 27 which is a bullish sign. One can buy at current levels or above 1388 with a stop at 1311.
After a good rally in RIL, it getting high price rejection from overbought levels. We can 50 % of its upmove as a retracement. Target should be somewhere 1300. BSE:RELIANCE [/s ymbol]
Nifty is making a clear head and shoulder pattern on weekly . And also made shooting star candle on daily following a red candle of today you can short nifty at this level. My targets for month end will be TARGET 1 -10760 TARGET 2- 10580 TARGET 3- 10200
These days, I'm able to spot such patterns. Call it Flag / Triangle etc. But after the trend line breaks with a considerably big candle, it goes flying and hits the target ( basically a strong resistance from the past ) - I'm sure these type of patterns already existed even before I was born, I am probably noticing it now.
My idea about reliance on monday . After a big impluse wave its clealy making a bullish flag. i am bullish but you can DYOR(Do Your Own Research) . on the chart green and red lines showing the buy and sell zones. lets see what happens. GOOD LUCK TARGET ABOVE GREEN LINE -1310 TARGET BELOW GREEN LINE -1250
Everything is marked on the chart-- Swing points, trend lines can be used for trading along with some momentum indicators. Try to lookout for confluence of these parameters, don't trade solely using any one of these parameters. P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal. Invest your capital at...
I am of the Opinion that RELIANCE is on its way up - Entry at 1275 TGT of 1310 SL of 1260 - (Note: These are kind of Trading Journals that I'm putting in for myself)
levels mentioned in the chart key Feb. retracement level with small stoploss
Reliance broke the bull trendline and making a Head and Shoulder pattern on 15 min charts. Looks Good Short @1290 Target 1260 (30 points) SL 1310 (20 Points)
RELIANCE - PROBABLE BUY SETUP FORMED ON WELL TESTED 200 DAY MA
Happy New Year 2019. Jay Correction !!!
SWING TRADE IN RELIANCE JAN FUT AFTER BREAKING THE BEARISH TRENDLINE STOCK HAS MANAGED TO BREAK ABOVE THE STRONG RESISTANCE LEVEL JAN FUT BUY@1188 STOP@1160 TARGET@1220 LOT:500 QTY:2
BTST IN RELIANCE JAN FUT BEARISH TRENDLINE BREAKOUT ON THE UPSIDE RISING OI WILL LEAD THE NIFTY BREAKOUT SYMMETRICAL TRINANGLE ON HOURLY CHART BUY@1130 STOP@114.5 TARGET 1@1150 TARGET 2@1175 LOT:500 QTY:2
Intro : The bump and run is a pattern that is of explosive power in developing markets aiming at maturity. Reliance has just bumped onto and looks to start its run. For those unfamiliar with this lesser known pattern, this looks like a inverted cup, preferrably on an ascending trendline support angled between 30-40 deg. This has been observed in cases of several...