Simple Trade Setup | RELIANCE | 04-08-2021NSE:RELIANCE
Today, 03-08-2021, It broke the 2085 level and closed above it.
trade setup for tomorrow,04-08-2021
If it goes down to take support from range 2078-2085 then it will be a buy opportunity to trade. For safe trade if it comes back to 2085 and break it or if it trades above 2085 level then it will be a good entry. Better to book partial profit at 2095 level.
Once it breaks 2110 level it will be good bullish.
My personal view is bullish on Reliance now.
do comment your doubt or suggestion.
Reliancetradesetup
SIMPLE TRADE SETUP | RELIANCE | 03-08-2021NSE:RELIANCE
Today, Reliance gave good bullish move. But still it is below 2075-2085 range and also took resistance from the same.
Entry and Target levels are mentioned on chart and it is simple to understand.
Comment your doubt or suggestion.
My personal view is Neutral for tomorrow. follow the price action of tomorrow and take the trade. But follow the level. Trade with SL.
RELIANCE TARGET HIT | TRADE SETUP 28-07-2021NSE:RELIANCE
Reliance gave a good opportunity to short below 2070 level and hit our first target at 2055.
Trade Setup for 28-07-2021.
Today at the end of the day closed in the rage of our first target on short side 2055. Now this level will work as our entry level for short side.
If it takes the resistance from this level and then our next target for the short side will be 2035. I don't see any movement below 2030 at this moment in Reliance.
Hope you had a good profit from this trade today. Do comment if my ideas are helping you to understand trend, levels and price action.
Let me know if you have any doubt or suggestion.
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 | Likely double bottom | Wait for confirmationPast few candles are nearing the low support level. It is evident by increasing sell volumes 9-10m approx in last 3 days.
Also MACD fastline is nearing to cross the slowline from above.
Wait for confirmation. If the price rebounds from 2nd bottom, it is definite buy call
1st TP ~ 1950
2nd TP ~ 2019
Reliance elliott wave update for 27jan 2021Reliance 15min chart indicates that decline from 2120 is looks like an impulsive decline and wave (i), (ii) and (iii) is completed at 2035, 2075 and 1932 respectively and wave (iv) and (v) is pending.
1965-1986 is an immediate resistance range for wave (iv) retracement.
reliance may complete wave (iv) in 1965-1986 range and then it may again decline 70-115 points from there to complete wave (v).
And if it trades above 1986 then only bullish.