RELIANCE BUY ABOVE 2010-2015
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
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Note: This is for educational purpose only. Do not trade in F&O based on this analysis.
21 EMA has acted as a dynamic support previously. There seems to be a bullish bounce from 21 EMA again. Moreover, there seems to be a bullish trendline breakout in RSI as well. RSI above 60 indicates bullish momentum.
Hii this is trader Kanishk
This is the analysis of RELIANCE
Here the phase is very volatile and we don't have to took long position in RELIANCE without confirmation .
Reliance is an uptrend stock of=n each and every time frame.
we can take our long positional trade in RELIANCE but after confirmation.
Watch this complete video i've discussed everything.
Head & Shoulder pattern observed in Reliance. However the pattern is yet to be confirmed. So, take bearish view only if neck level of H&S fails to hold as support.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and...
Double Top pattern spotted in Reliance. At the time of posting the stock is trading at 1293, well below the neck level of 1308 and candle close will most likely confirm the pattern. Once there's a confirmation, the stock can be expected to fall towards 1250.
Everything is marked on the chart-- Swing points, trend lines can be used for trading along with some momentum indicators.
Try to lookout for confluence of these parameters, don't trade solely using any one of these parameters.
P.S: This is not an investment advice. This is for learning purposes only. This is my personal journal.
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