Reliance industries in trading in a channel and taking a short trend near upper channel with SL above the resistance zone has potential of giving good profits.
Sell - 2750 - 2740
SL - 2800
Targets - 2635, 2585
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InvestPro India
Reliance has given a breakout of a falling trend line and sustaining above that and looking good towards marked target on the chart.
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Reliance is currently positioned at a favorable support level within an upward trend line. The stock is presently undervalued, as its trading price remains in a similar range to that of two years ago, and it has not yet surpassed its all-time high (ATH). Based on its recent price action, there is a potential for a 10% upward movement in the next two months....
Note: This is for educational purpose only. I am not SEBI registered. So please consult your Financial Advisor before investing.
There seems to be formation of bullish hammer in Reliance at support levels. Moreover, the RSI and Relative strength indicates bullish momentum as well.
As per my analysis, Reliance reaches 2420 as per 2 hours chart.
As per Daily chart,, if the value breaks 2300, then we can expect down trend upto 1800.
Reliance is consolidating near it's previous demand zone @ 2300 - 2250 and looking a good buy for a bounce.
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InvestPro India Team
Buy Reliance if sustains above 2550 for the targets of 2565 and 2580.
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InvestPro India Team
Reliance gave a great move from 2500 level towards 2750 and again retracting towards demand zone, go long for marked targets on the chart until 2500 is intact on the down side.
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InvestPro India Team
RELIANCE near the trend line.
There can be an entry for Intra-day traders for both long and short position.
For Swing traders, wait for the price action to be formed. Buy calls if you find a green candle breaking the trend line. First target can be 2672 ~ for swing traders and the second target can be ~2800 if the market sustains the momentum.
For Intra-day...
the Disclaimer for all is only for Education prepose only stock will show two to three day down trend side but the hit to support so u can cut or book profit on that time only it will return to uptrend is stock in bluechip stock
Price & Volume relationship
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Daily & Weekly: Both volumes support price decline.
The RED trendline is deciding factor for reliance.
If that breaks than we will see a further downfall.
On daily candle we can see Bullish Harami candle.
Unfilled Gap we can see @ 2701
Symmetric triangle we can see.
I will add more Qnty once it cross @2594.35
📈 Reliance Industries Ltd. 📉
This broke out from a Resistance Zone of downtrending Trendline and closed above previous swing high of 2450 .
On Buy Side I am looking for Targets of 2552, 2600 and 2730.
StopLoss should be kept below 2350 zone.
It offers 1:2.5 Risk To Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing...
