Reliance has strong support zone at 2300-2280 levels and looking good to buy on Dips until these levels are intact on closing basis.
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
NSE:RELIANCE
Observations:
1) On 15 min time frame, we can see formation of cup and handle pattern.
Please refer below chart : 15min Time Frame.
2) On 1 day time frame, if we apply FIB RETRACEMENT then we can see that critical level to breakout on daily time is 2702.45 level.
But for safer side we will consider...
EXPLANATION : This is a 15 min time frame chart of RELIANCE . It has taking trendline support , If give a strong breakdown and broke its trendline & Demand zone with high volumes and retest the same , I am bearish on RELIANCE . If support is taken from trendline & give a strong breakout and broke its Supply zone with high volumes and retest the same , I am bullish...
NSE:RELIANCE
Trade Setup for Date 07-10-2021:
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 01-10-2021:
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 27-09-2021:
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 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...
Reliance after a big fall, is stuck in a falling price channel . Good move on either side (short or long) could be achieved after the breakout of this price channel .
Entry should be initiated if reliance gives closing of 15 mins candle breaking the channel . No entry should be taken if reliance takes support and comes back into the channel without giving closing...
NSE:RELIANCE
Observations:
1)On Daily Time frame: we can see that the retracement is over now and today it gave good bullish candle as a reversal. Now it will go continue it's bullish trend.
Please refer below chart : Daily time frame.
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Trade Setup for Date 17-09-2021:
1)...
NSE:RELIANCE
Retracement is going on.
Now I can expect a dip/retracement till 2335 levels.
You can also refer my previous post on RELIANCE. Link is mentioned below.
NSE:RELIANCE
This is simple positional Trade Setup & Levels for RELIANCE for Short/Mid term holding of Equity shares.
Do comment your doubt or suggestion.
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...
NSE:RELIANCE
Observations:
1) Rounding bottom breakout perfectly worked. And gave good move in last two days.
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Trade Setup for Date 27-08-2021:
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)...
Reliance took a correction of nearly 10% from 15th June to 25th July, then made an up move. This correction completed the target of the bearish bat pattern(left side,
Moving to the current situation, the price is again at a decisive potential reversal point but being already beaten up, chances of fall are less if spoken logically. There could be a fall also, so...
NSE:RELIANCE
Observations:
1) On 1 hour time frame earlier it had made inverse head and shoulder pattern which we already covered in earlier post .
Now it has made rounding bottom pattern on 1hour time frame with neck/breakout line at level 2190.
Please refer Chart below: 1 hour time frame....
NSE:RELIANCE
All the levels will remain same.
All these levels will work as support, resistance, entry and target w.r.t price action near those levels tomorrow.
Do check my previous ideas in link below.
Do comment your doubt or suggestion.
![RELIANCE: Simple Trade Setup | RELIANCE | 18-10-2021 [INTRADAY]](https://s3.tradingview.com/b/BaRyPMZ9_mid.png "Simple Trade Setup | RELIANCE | 18-10-2021 [INTRADAY]")
![RELIANCE: Simple Trade Setup | RELIANCE | 07-10-2021 [Intraday]](https://s3.tradingview.com/e/EeZg1S8t_mid.png "Simple Trade Setup | RELIANCE | 07-10-2021 [Intraday]")
![RELIANCE: Simple Trade Setup | RELIANCE | 01-10-2021 [INTRADAY]](https://s3.tradingview.com/p/P4yU0C55_mid.png "Simple Trade Setup | RELIANCE | 01-10-2021 [INTRADAY]")
![RELIANCE: Simple Trade Setup | RELIANCE | 27-09-2021 [INTRADAY]](https://s3.tradingview.com/0/0KRgNo8P_mid.png "Simple Trade Setup | RELIANCE | 27-09-2021 [INTRADAY]")
![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]")
![RELIANCE: Simple Trade Setup | RELIANCE | 17-09-2021 [INTRADAY]](https://s3.tradingview.com/c/cBRpc7Z4_mid.png "Simple Trade Setup | RELIANCE | 17-09-2021 [INTRADAY]")
