Reliancetrade
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.
Be independent trader.
Take charge of your own trades.
Learn . Apply . Grow
Reliance For Buying Opportunity Reliance Looking for a Buying Opportunity
Reliance Price Rejected from Top Level, There are two supports that may bounce. The first support has a 70% probability of bouncing, while the second support has a 30% chance of bouncing. You may buy for swing trading, short or long term, so don't miss out.
Also, Keep It Mind that
If stock market gurus were true experts, they would buy stock not selling advice. So don't take anyone's word for it; this is just my opinion; do your own analysis
RELIANCE : Result day : BIG Day Reliance closed in negative today and in weekly candle in inverted hammer.
Tomorrow is AGM for Reliance and as per chart, its making Flag & pole pattern.
We may see some SL trapping tomorrow and then breakout......
Reason :
> Near to support of Flag
> Monthly RSI is 78...one push needed to move RSI up
I might be wrong as no one know....but but but.....Lets see tomorrow.
Share your view also.
This is only for educational & learning purpose