Simple Trade Setup | Reliance | 06-08-2021NSE:RELIANCE
chart and levels are simple to understand.
Do comment your doubt or suggestion.
Reliancelong
Simple Trade Setup | RELIANCE |05-08-2021NSE:RELIANCE
Trade Setup for 05-08-2021
Fresh Buy side entry only above 2110 level.
All the levels will work as Support, resistance, entry and exit w.r.t price action on particular day near to that level. If you are already an experience trader then you can even short from the above levels. But if you want to take safe trade on buy side then better to follow the trade setup.
My personal view is bullish on RELIANCE.
Do comment your doubt or suggestion if any.
Simple Trade Setup | RELIANCE | 04-08-2021NSE:RELIANCE
Today, 03-08-2021, It broke the 2085 level and closed above it.
trade setup for tomorrow,04-08-2021
If it goes down to take support from range 2078-2085 then it will be a buy opportunity to trade. For safe trade if it comes back to 2085 and break it or if it trades above 2085 level then it will be a good entry. Better to book partial profit at 2095 level.
Once it breaks 2110 level it will be good bullish.
My personal view is bullish on Reliance now.
do comment your doubt or suggestion.
SIMPLE TRADE SETUP | RELIANCE | 03-08-2021NSE:RELIANCE
Today, Reliance gave good bullish move. But still it is below 2075-2085 range and also took resistance from the same.
Entry and Target levels are mentioned on chart and it is simple to understand.
Comment your doubt or suggestion.
My personal view is Neutral for tomorrow. follow the price action of tomorrow and take the trade. But follow the level. Trade with SL.
Reliance Symmetrical Triangle PatternReliance Symmetrical Triangle Pattern
Reliance Making Symmetrical Triangle Pattern That May Be Broken Up or Down
Symmetrical Triangle Pattern – Meaning, Formation & Trading
The symmetrical triangle pattern is a continuation chart pattern like Ascending and Descending Triangle patterns.
This pattern is characterized by two converging trend lines that connect a series of troughs and peaks.
The trend lines should be converging to make an equal slope.
This pattern indicates a phase of consolidation before the prices breakout.
What is a Symmetrical Triangle Chart Pattern?
The Symmetrical Triangle Chart Pattern indicates an ongoing period of price consolidation before the prices breakout.
A bullish symmetrical triangle is a bullish continuation chart pattern, the movement preceding the triangle’s formation must be bullish .
On the other hand, A bearish symmetrical triangle is a bearish continuation chart pattern, the movement preceding the triangle’s formation must be bearish .
The symmetrical triangle pattern is different from a descending or ascending triangle pattern as both triangles’ lower and upper trend lines slope towards the center point.
A horizontal upper trendline is formed in ascending triangles that predict a higher breakout.
With a descending triangle , a horizontal lower trendline is formed that predicts a lower breakout.
The trend lines should be equal in their convergence slope when a symmetrical triangle is formed.
RELIANCE || Simple Intraday Setup 30-07-2021NSE:RELIANCE
RELIANCE is still having bearish trend. It couldn't break that trendline. Also took resistance below the critical zone mentioned on the chart.
For Intraday trader, you can play between the levels marked on the chart.
If some particular level break out then it will give a buy trade till next level on the up side. And it some particular level break down then it will give a sell trader till next level on the down side. But take the trade once you get the 15min or at least 2 consecutive 5min candle to consider as breakdown or break out.
Trade with SL.
Hope my ideas are helping you to understand levels, price action and taking the trade from the right level.
Do comment if you have any suggestion or doubts, I will try to response as soon as possible.
Target 2 hit today in Reliance | Simple Intraday Setup 29-07-21NSE:RELIANCE
RELIANCE is still having bearish trend.
For Intraday trader, you can play between the levels marked on the chart.
If some particular level break out then it will give a buy trade till next level on the up side. And it some particular level break down then it will give a sell trader till next level on the down side. But take the trade once you get the 15min or at least 2 consecutive 5min candle to consider as breakdown or break out.
Trade with SL.
Hope my ideas are helping you to understand levels, price action and taking the trade from the right level.
Do comment if you have any suggestion or doubts.
RELIANCE TRADE SETUP | 27-07-2021NSE:RELIANCE
Today, it went totally down to it's critical support zone 2075-2080.
Good opportunity to short below 2070.
Target are mentioned on the chart.
Keep stop loss at 2088.
RELIANCE @SUPPORTRELIANCE is roaming in a range, basically, it's trading in supply demand format. Now it again came on its important support level. And from here, There are only 2 possibilities. If it again takes support, One can wo long and if it breaks the support ,go short.
RELIANCE REVIEW-23-07-2021 | Levels and Target 26-07-2021NSE:RELIANCE
Review
Today, 23-07-2021, Reliance opened with gap up to trap trader with bullish sentiment. And couldn't able to hold even above 2110 level.
But the good thing is, on daily chart it took support from trendline and also closed above 21DMA. This level above 2100 will be immediate support zone for RELIANCE. After that it has support zone at 2075-2080. Bearish trend will start only above this range 2075-2080. Above 2100 it has strength for bullish trend and above 2127 Bullish trend will be strong.
Levels and Target for 26-07-2021.
Since today it will have Result, so if market loves the result then on Monday it will definitely go wild.
But as a trader we have trade in our pre-decided strategy and with entry levels and target.
Bullish trade entry can be made only above 2127. And also avoid first 20-25 minutes to enter in trade. Otherwise it will happen like today, it will give gap up opening and trader will jump in to buy trade. Never chase a gap up opening. Let it get settled for 15-20 minutes minimum.
Hope my trading ideas are helping you to understand price action and levels.
Do comment if you have any doubt.
RELIANCE | TARGET AND LEVELS TOMORROW | 23-07-2021NSE:RELIANCE
Our buying trade will only initiate above 2127 as mentioned earlier.
Today it broke the trendline and also took support from it and also 21DMA has been broken today. But only thing to worry was average volume.
But it will only show good strength once it goes up 2127 level.
Comment below if you have any doubt.
Hope my ideas are helping you to understand the levels and price actions.
Reliance Target and levels remains unchanged.NSE:RELIANCE
Previous levels and Targets still remains same.
Buy only above 2127 for safe trade position.
Reliance Target LevelsNSE:RELIANCE
Reliance looks bullish once it breaks the trend-line.
Fresh buying can be made only above 2127 for safe trade. Target levels are mentioned in the chart.
Reliance FuturesReliance Futures
LTP: 2155.95
Support:2100.00
Resistance:2180.00 / 2222.15
15m Chart
The chart is in an uptrend since 2nd July
Candles are taking support at 12 DEMA
RSI and MACD are both above the horizon which indicates a bullish trend
Hourly Chart
2100 seems like a very strong support level
Looks like the charts have made a cup and handle pattern which is a bullish pattern
4 Hour Chart
the candle has closed above the 50 DEMA which is a buying signal
The 12 and 26 DEMA have still not crossed on the chart but MACD shows a bullish reversal
RSI has closed above the 50 mark which is a bullish signal
Buy and hold for short to medium term for targets of 2222.00+
Reliance - Wait for breakoutReliance Industry seems to have a breakout from a triangle pattern, so give an entry with appropriate Stop loss only after its breakout
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
Reliance "Udega" Trade || 15 mins || Swing Trade || RR 2.8Hi guys,
You know what to do ! Just follow the setup and have a strict SL as marked in the chart. Punch any comments if you have.
Regards,
Abhishek Singh
Reliance For Buying Opportunity Reliance Looking for a Buying Opportunity
Reliance Price Rejected from Top Level, There are two supports that may bounce. The first support has a 70% probability of bouncing, while the second support has a 30% chance of bouncing. You may buy for swing trading, short or long term, so don't miss out.
Also, Keep It Mind that
If stock market gurus were true experts, they would buy stock not selling advice. So don't take anyone's word for it; this is just my opinion; do your own analysis
RELIANCE: AGM PLAYOUTStock is forming a triangular structure in an impulsive channel. One should buy on cmp with sl of 2145 for tgt of 2280/2300/2310.
