RELIANCE INDReliance has given breakout of resistance trendline on daily chart along with very good intensity of volume, also it has been closed above 20WMA (Weekly Mid Bollinger Band)
in addition to this macd in weekly is about to turn positive and daily has done positive crossover few days back, which is now uptick above zero line.
Possibly wave 3 of 3 can now unfold. On the way up, it can rise higher towards the upper end of the rising channel which is currently pegged at 2918 coincides wave 1 and 3 both will be equal at nearly at same level.
On the way down, RK's stop line and 20WMA , currently pegged at 2416 and 2340, will provide support in forthcoming weeks.
RK's Magic positive signals to go long
breakout on daily time frame with good volumes
weekly chart some findings are mentioned in snapshot
macd in weekly uptick above zero line
macd in daily positive
rsi in daily chart uptick and now at 60.
Disclaimer.
I am not sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.
Reliancelong
RELIANCE INTRADAY TRADE | BUY @ 2398Buy Reliance @ 2398 with 10 points SL for the upper marked targets on the chart.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Reliance forming flag and pole patternOn hourly time frame the stock is forming a flag and pole pattern but Rsi is showing a negative divergence.
Reliance can give good move on either side.
Support:- 2385, 2314
Resistance:- 2406, 2455
The consilidation is the main part of trend formation. The stock has rested and will give nice targets on both sides,
#Reliance Trend Analysis NSE:RELIANCE
Everything one can see on chart.
📌 To Trade on This Chart, You Should Have Reversal Trading Knowledge. As Harmonic is One Of The Best Reversal Trading Strategy, But Always Remember That Harmonic Patterns Also Can Fail (there is no holly grail In Stock Market). That's Why One Should Must Have Knowledge Of Reversal Trading To Trade On Harmonic Patterns.
📌 That Dash Line Is Called PRZ, From That Dash Line To that Horizontal Simple Line Area Is Whole PRZ(Price Reversal Zone).
******whatever charts or levels sharing here or on any other platforms are just for educational purpose only, Not A Recommendation To Buy Or Sell. Please do your own analysis before taking any trade on them. We are not SEBI registered.
Reliancehigh : 19/10/2021 : 2,751.35
low : 28/07/2021 : 2,016.25
75 % : 2567.57
50% : 2383.80
25% : 2200.02
RELIANCE IND SHORT-TERM SWING TRADE! Hi everyone, Reliance industries short term swing trade consider buy above: 2,425, target: 2,590. stoploss: 2,347.
LOGIC BEHIND TRADE: Stock has recently given breakout & pull back on it`s resistance buying on pull back is idea (target is identified from harmonic xabcd pattern level 1.131) stoploss is taken low of resistance candle. Stock looks good for short term swing trade. NSE:RELIANCE
Reliance Industries Ltd. BuyReliance Industries Ltd is India`s largest private sector enterprise, with businesses in the energy and materials value chain. The company works under different business segments
CMP: 2539
Target: 2600-2700
Reliance Buy at dip. Now Good Support on 2477. Given Day Breakout 2499. Now seen big move.
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Reliance 1-Day Time Frame Swing Trade Broken trendline to become bullish on a daily time frame.
t1:2747
t2: 2569
t3: 2475
SL: 2345
RELIANCE INDUSTRY MID-TERM SWING TRADE!Hi everyone, Reliance industries mid term swing trade consider buy above: 2,500, target: 2,720, stoploss: 2,409.
LOGIC BEHIND TRADE: Stock has given good correction & formed (w) pattern and given breakout of dynamic trendline resistance & static resistance (target identified from harmonic xabcd pattern level 1.414) & if sustain above 2,500 can go upto all time high, stoploss is taken previous swing low. NSE:RELIANCE
Reliance bullish swing above 2400Hello traders, no updates on the last stocks due to limited time I have right now.
Reliance has been following a supportive trendline for about 6 months and now it is following a resistance trendline for about 2 months, it is time for the intersection of these trendlines to complete the symmetrical triangle. When it gives a breakout from this triangle go long for the upper marked targets.
Buy above - 2400
Targets marked in the chart above
RSI in the bullish zone
MACD above signal line
Stock above 200 ma cluster
Above flip zone
Symmetrical triangles tend to be a continuation pattern and in this script I'll consider going long as a better opportunity.
Please LIKE, COMMENT and SHARE to motivate and support me. I'll keep on posting new ideas on Indices & Stocks. Be sure to follow so that you don't miss any good trades that might have been rewarding.
Any comments and critiques will be appreciated even if it's of opposite view as a trader can also be right so many times.
BUY RELIANCE ON DIPSReliance has strong support zone at 2300-2280 levels and looking good to buy on Dips until these levels are intact on closing basis.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
NSE:RELIANCE Booooom today, details shared !!NSE:RELIANCE
#NSE:RELIANCE Zoomed today 2400 CE shared and it touched 133 and bagged almost 19K per LOT.
Other scripts shared for reference !!
RELIANCE Long Call Analysis @CMPRIL is trading in 2 beautiful parallel channels as you can see in the chart. After the recent fall from its highs of 2750+, the stock has taken support from the lower band of upper parallel channel. This view is supported by a supremely bullish Doji (Bullish Hammer) Candle, this signs a strong pullback to retrace its previous highs of 2750. Possibility of a strong breakout can NOT be avoided, if the stock gains strong momentum from here. I am personally bullish on this stock and added a few stocks at this level for trading purposes. Go LONG on Reliance.
*** I am Not SEBI registered. Kindly take advise from your consultant before taking trade.***
RELIANCE INDUSTRIESReliance went below the 40DEMA but it has made a comeback after touching the daily lower Bollinger band.
More importantly, the daily trend indicator MACD has now turned towards bullish, but still crossover is pending in daily MACD,
Overall chart structure suggests that wave 5 can be possibly unfold now.
As per Elliot waves guidelines and fib levels principle it can touch 2917 levels in fourth coming sessions,
On the way down, 40DEMA and the swing low i.e.2523 and 2456 respectively, will be the support levels to watch out for in the near term. All the key levels along with stop loss and targets are mentioned on chart.
One can go long at current levels or in dips ( if any ).
Key levels and wave structure
macd in daily turned uptick, converging towards positive
macd in hourly positive, uptick above zero line
Disclaimer
I am not sebi registered analyst
My studies are for educational purpose only
Consult your financial advisor before trading or investing
I am not responsible for your profits and losses
NSE:RELIANCE BONSE:RELIANCE
#RELIANCE Bo the resistance level, one may try 2520 CE with resistance level as SL
beginners may reach me in case of queries on this level.
Happy trading !!
NSE:RELIANCE LongNSE:RELIANCE
#RELIANCE touch ATH 2750, retraced and now reached to 2620 levels, sustained above the support.
High chances to bounce back and continue positive momentum,
Post sustainability confirmation one can try 2600/2620 CE with same 2600 level as SL.
Happy Trading !!
Reliance Industries tests the demand zone before the results dayReliance Industries are out tomorrow. The stock has fallen more than 3% to test the potential reversal zone of the harmonic pattern XABCD or the demand zone.
As we can see, in the last hour price has bounced off the zone with good volumes. The price has to stay above this zone or else it could test 2500 or even lower by the long unwinding. If sustained above the zone, could even take out the ATH.
Shark patterns often come when the corrections are sudden and deep, which is perfectly suited in this case.
Maintain strict stoplosses though.
Happy trading :)
This is just for educational purposes.
RELIANCE | BUY ABOVE 2400The stock has broken out the previous resistance of 2369 and looking good to buy if sustains above 2400 for marked targets on the chart until 2240 is intact on the closing basis.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Simple Trade Setup | RELIANCE | 01-10-2021 [INTRADAY]NSE:RELIANCE
Trade Setup for Date 01-10-2021:
1) Don't Jump in to trade at the beginning of the market. Let it get settle for 15-20min first and judge the price action.
2) Everything is mentioned on the chart. I hope it is easy to understand.
3) All the levels will work as support, resistance, entry and exit w.r.t price action near that level.
4) Avoid gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respsective level considering how price action works near that level.
