Simple Trade Setup | RELIANCE | 03-01-2022[INTRADAY]NSE:RELIANCE
Trade Setup for Date: 03-01-2022
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 gap up or gap down chase. Wait and trade between levels.
Please refer below chart for levels.
Hope I made it easy to understand it.
Do comment your doubt or suggestion.
Note: Trade with Strict SL. It may or may not hit all the levels. So one can book profit / loss at respective level considering how price action works near that level.
Reliancetradingtips
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.
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.
Dealing with 4-chart "extensively research" at Reliance price...
Volume vs. Price Action:
Points to be focus on:
Gap (run away type)
Invalid Doji (from the left to right Doji is invalid because of low volume compare to previous candle)
sequence of tails (sign of existence negativeness)
Interruption began to push price upward.
Red Alert : sellers will take action on the Red Alert zone 1542 to 1490, and price will T1 as target.
Fibonacci Retracement :
confluence zone 1353 to 1329 target
next target 1250 nearby if sellers will continue.
Wave analysis theory ( unconfirmed ):
Parallel Channel and Project :
T1 -1375 to 1380