Sell Reliance if sustains below 2335 for the marked targets on the chart until 2350 is intact on the downside.
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InvestPro India Team
Gartley Harmonic Pattern has activated in Reliance in 2H timeframe.
Potential Reversal Zone according to the said structure appears in the zone of 2366-90.
Let's see.
#Reliance downtrend movement with risk:reward 4
Symbol: Reliance
Time frame :4-hours chart
Analysis breakout from the symmetrical Triangle
Downtrend Movement
Checked the conditions for moving average, RSI and volume
Sell at 2196 with this stop loss 2295 and target 1830
HOPE our analysis is adding value to your Stock market trading Journey.
NOTE: ...
RELIANCE has formed head and shoulders top pattern on the weekly chart. The stock is hovering at the trendline, as bulls got rejected this week.
A breakdown from here can take the stock all the way to 200WMA of 2000 and perhaps subsequently toward 1830 support zone .
Keep an eye!
THEORY:
This pattern forms after an extensive upside rally. It consists of a left shoulder, a head, and a right shoulder. The left shoulder is formed after a big bull rally in which the volumes are quite large.
At the end of the left shoulder, a minor correction takes place on the downside which happens on the low volumes comparatively the starting of the left...
Reliance has broken the upward trend line and looks we are going to see down levels in coming sessions. Sell @ 2600 - 2610 with the SL of 2650.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Double Top has been formed on daily chart and Reliance looks good to sell if sustains below 2360 for the Target of 2000 - 1920.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Reliance chart has been analyzed as per Elliott Wave Theory . Here what we can see is NSE:RELIANCE is going to make a fall in the higher time frame.
Any query is welcome.
In Reliance RK's momentum sell signal is already activated on daily chart, and yesterday finally it break down from that rising channel, and today we closed below 20dma along with close below RK's stop line which is at 2635, now we can say that yes we are in bearish phase.
As per Elliot wave structure also, wave E of the ending pattern ended in april and fall was...
All the analysis is as shown on the chart. Facing strong resistance on Daily TF.
This is my view and for educational purpose only.
Happy to hear views in the comments section
Here is my view on RELIANCE INDS
3 downside GAPS were pending, so no long view we will only short when we have best opportunity untill we will wait.
Conditions applied:
If 2730 taken out then we can initiate position till 2674 & if that taken out then 2638 & so on.
Reliance moving Higher High swing formation. Now reached HL diagonal support, It will be move towards upward from coming days. Concentrate for the upcoming HH Target.
Hello friends,
Here is RELIANCE INDUSTRIES short set up as per Harmonic Pattern SHORT Reliance Below 2739 with sl of 2912 closing basis for the Target of 2567 and 2247.
Happy Trading
Thank you.
Reliance made all time high breakout on 21 Apr gaining over 60 points during the day. RIL helped a lot to lift nifty on the day.
on April 22 though RIL opened with a small gap down giving indication that this is the breakout level retest. This gave concern, as all time breakout should not have a intraday retest. Retest should have happened after 2-3 days after...
NSE:RELIANCE
Trade Setup for Date 24-09-2021:
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...
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...
![RELIANCE: Simple Trade Setup | RELIANCE | 24-09-2021 [INTRADAY]](https://s3.tradingview.com/j/jA9ZnB0y_mid.png "Simple Trade Setup | RELIANCE | 24-09-2021 [INTRADAY]")
