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Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites, Derivatives, commodity and Currency can be substantial.
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 IND HAS BEEN IN A CONSOLIDATION SINCE LAST MONTH INTO A TRIANGULAR PATTERN
SUGGESTIONS WOULD BE TO KEEP AN EYE ON UPPER TRENDLINE AND TAKE ENTRY ONCE IT BREAKS
TODAYS HAMMER CANDLE ALSO INDICATES BUYING PRESSURE!!!
HAPPY TRADING. !!
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.
RELIANCE INDUSTRIES, 1 Hour Chart
AS PER ELLIOT WAVES IN 60 MIN TF.
TARGETS COULD BE 2190 & 2238.
THESE ARE JUST MY GUESSINGS, LET'S SEE WHAT HAPPENS IN MARKET REALITY.
DISCLAIMER :
I AM NOT SEBI REGISTERED ANALYST.
MY STUDIES ARE FOR EDUCATIONAL PURPOSE ONLY.
CONSULT YOUR FINANCIAL ADVISOR BEFORE TRADING OR INVESTING
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
