Target 2 hit today in Reliance | Simple Intraday Setup 29-07-21NSE:RELIANCE
RELIANCE is still having bearish trend.
For Intraday trader, you can play between the levels marked on the chart.
If some particular level break out then it will give a buy trade till next level on the up side. And it some particular level break down then it will give a sell trader till next level on the down side. But take the trade once you get the 15min or at least 2 consecutive 5min candle to consider as breakdown or break out.
Trade with SL.
Hope my ideas are helping you to understand levels, price action and taking the trade from the right level.
Do comment if you have any suggestion or doubts.
Reliancetrade
RELIANCE REVIEW-23-07-2021 | Levels and Target 26-07-2021NSE:RELIANCE
Review
Today, 23-07-2021, Reliance opened with gap up to trap trader with bullish sentiment. And couldn't able to hold even above 2110 level.
But the good thing is, on daily chart it took support from trendline and also closed above 21DMA. This level above 2100 will be immediate support zone for RELIANCE. After that it has support zone at 2075-2080. Bearish trend will start only above this range 2075-2080. Above 2100 it has strength for bullish trend and above 2127 Bullish trend will be strong.
Levels and Target for 26-07-2021.
Since today it will have Result, so if market loves the result then on Monday it will definitely go wild.
But as a trader we have trade in our pre-decided strategy and with entry levels and target.
Bullish trade entry can be made only above 2127. And also avoid first 20-25 minutes to enter in trade. Otherwise it will happen like today, it will give gap up opening and trader will jump in to buy trade. Never chase a gap up opening. Let it get settled for 15-20 minutes minimum.
Hope my trading ideas are helping you to understand price action and levels.
Do comment if you have any doubt.
RELIANCE | TARGET AND LEVELS TOMORROW | 23-07-2021NSE:RELIANCE
Our buying trade will only initiate above 2127 as mentioned earlier.
Today it broke the trendline and also took support from it and also 21DMA has been broken today. But only thing to worry was average volume.
But it will only show good strength once it goes up 2127 level.
Comment below if you have any doubt.
Hope my ideas are helping you to understand the levels and price actions.
RELIANCE | DO OR DIE ZONEThe stock is trading near the support line and it took support from the 2080-2060 zone multiple times.
If it again takes the support we may see higher targets marked on the chart, breaking down the support zone would open possibilities for lower levels.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Reliance FuturesReliance Futures
LTP: 2155.95
Support:2100.00
Resistance:2180.00 / 2222.15
15m Chart
The chart is in an uptrend since 2nd July
Candles are taking support at 12 DEMA
RSI and MACD are both above the horizon which indicates a bullish trend
Hourly Chart
2100 seems like a very strong support level
Looks like the charts have made a cup and handle pattern which is a bullish pattern
4 Hour Chart
the candle has closed above the 50 DEMA which is a buying signal
The 12 and 26 DEMA have still not crossed on the chart but MACD shows a bullish reversal
RSI has closed above the 50 mark which is a bullish signal
Buy and hold for short to medium term for targets of 2222.00+
Reliance - Wait for breakoutReliance Industry seems to have a breakout from a triangle pattern, so give an entry with appropriate Stop loss only after its breakout
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
📊 Reliance 🎯NSE:RELIANCE
As we can see after AGM it has fallen but it's cycle ups and downs always be a part of stock market same as our life (gir kar uthata hain wahi to upar utha hain).
see behind this probable up move there is a logic and we have to follow process is we want to become successful in stock market.
as per this chart we can clearly see that Reliance at Harmonic PRZ so from upcoming trading session if we find that it will be crossing above or staying above VWAP then one can go long on Reliance and one must has to follow stop loss as per their trade setup.
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