Note: This is for educational purpose only and please do not trade in F&O.
There seems to be a potential for bullish breakout above 2135₹ levels. RSI above 60 indicates bullish momentum.
SL: 2000₹
Today RELIANCE breakout the inverse head and shoulder pattern neckline. After the breakout, this level expected 2000+ target in the upcoming trading session.
Note: This is for educational purpose only and do not trade in F&O.
There seems to be a hammer at previous support zone which also coincides with 200 moving average. There seems to be a convergence in price and momentum (RSI).
SL: 1825₹
RELIANCE can give good upside trending moves in coming days.
BUY in the range of 1955-1965
Target 1 - 2184
Target 2 - 2374
Target 3 - 2595
Stoploss - 1855
*Study is based on Futures
Reliance has managed to crossover the trendline in daily charts today. What we have to watch is if it manages to hold because if it does, we might see a bull rally which will take the prices above 2000 levels.
Aggressive or risky traders can buy once RSI manages to cross 50 levels in Intraday charts with a stop loss of 1950.
In daily chart, price is at support of the horizontal channel. Forming double bottom but RSI is increasing, indicating bullish move. Target price is 2100 - 2300.
I hope you can now see how Reliance represents an excellent low risk profit entry setup allowing you to trade in the market. Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Thank You
Disclaimer: It should not be...
NSE:RELIANCE
if stay above current resistance one long till 2300+ , hv been holding from lower level so whoever gonna take fresh entry keep stop loss as per their trade setup.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before...
The stock has given the breakout and may show the level of 2100 soon until 1995 is saved on the downside.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
RELIANCE BUY ABOVE 2010-2015
SL1970
TARGET: 2032, 2058, 2074. 2093, 2114, 2126
Buy range and SL are on Closing Basis
Posting for Educational purpose only
Closing Basis means stock need to trade above 2010 - 2015 between 3:20 ~ 3.30 PM
If my analysis appears OK then please LIKE, FOLLOW and SHARE to get more future ideas
Reliance on the verge of breakout, upside move more probable. Look at pivot points in chart for levels. Great Opportunity Upcoming.
Lower Target 1 and Stop Loss for Longs: 1993.
Upper Target 1 and Stop Loss for Shorts: 2010.
Stay Connected for Further Targets.
Note: Idea only for Education Purposes.
This weeks candle has engulfed last two weekly trading candles.
CNXENERGY has been doing great, it is at all time high.
If Reliance retraces more till Rs 1800 it is still a good pick for accumulating.
Happy Trading Happy Weekend!
