Reliance Industries is currently trading at the potential reversal zone (PRZ)/supply zone set by the XABCD Bearish Bat Pattern. In the past after reaching the supply zone, it got corrected until 0.618 Fibonacci retracementent of CD. After a good correction, it is trading now near the supply zone. Since it touched the all-time highs, it never had closed above the...
Reliance spot cmp 2105 counter have formation of falling contracting wedge ,, where the breakout and retest is done,, currently counter is trading in symmetrical triangle formation,, break out of which would lead to good up move,, Rsi and MACD giving early indication with bullish divergence MAcd positive Crossover,, Good long criteria buildupp,,
NSE:RELIANCE Trade Setup for Date 30-08-2021: 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) If it breaks the RSI trendline on 15min time frame and breaks the trendline on price chart then it will be quick...
NSE:RELIANCE Observations: 1) Rounding bottom breakout perfectly worked. And gave good move in last two days. ------------------------------------- Trade Setup for Date 27-08-2021: 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...
Nice breakout in NSE:RELIANCE Wait for retest at the horizontal level and then enter. Favourable risk to reward. Set stop-loss according to your risk management.
NSE:RELIANCE Observations: 1) On 1 hour time frame earlier it had made inverse head and shoulder pattern which we already covered in earlier post . Now it has made rounding bottom pattern on 1hour time frame with neck/breakout line at level 2190. Please refer Chart below: 1 hour time frame. ------------------------------------- Trade Setup for Date...
NSE:RELIANCE All the levels will remain same. All these levels will work as support, resistance, entry and target w.r.t price action near those levels tomorrow. Do check my previous ideas in link below. Do comment your doubt or suggestion.
NSE:RELIANCE Observations: 1) On 15min Time frame, it is trading in downward channel. Please refer Chart below: 15 time frame. 2) On 1 Hour Time Frame, it is now back to its neckline after giving breakout of inverse head and shoulder. As per theory it should now test this neckline and give bullish move upside. Please refer Chart below: 1hour time...
NSE:RELIANCE Observations: 1) On Daily Time Frame it looks like an inverse head and shoulder pattern. And closed at the neckline which is 2145 level range. Please refer Chart below: 2) On Daliy time frame it has also closed above 50MA. 3) Next up level which has open interest addition is at 2160 call option. But an interesting thing is that for 2200...
NSE:RELIANCE Here is the simple trade setup with levels and actions mentioned on the chart. I hope it is easy to understand. Do comment your doubt or suggestion. All the best.
NSE:RELIANCE Simple Trade Setup On 15min time frame if you see it made kind of W pattern. And breakout level of it is exactly at 2120 level. Also it is facing resistance from black trendline and breakout of that trendline will give good up move. Levels and targets are mentioned on the chart. Hope it is easy to understand. On Daily Time Frame it looks...
NSE:RELIANCE chart and levels are simple to understand. Do comment your doubt or suggestion.
NSE: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...
NSE: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...
NSE: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...
Reliance 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...
NSE: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...
NSE: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...