RIL is trading in 2 beautiful parallel channels as you can see in the chart. After the recent fall from its highs of 2750+, the stock has taken support from the lower band of upper parallel channel. This view is supported by a supremely bullish Doji (Bullish Hammer) Candle, this signs a strong pullback to retrace its previous highs of 2750. Possibility of a strong...
What s up Traders,
Everyone's favorite Reliance INDS took support from weekly trendline and previous swing high.. One can Initiate a good long position in RIL according to their risk reward setup.. Best range for SL would be below the trendline..
Thanks!!! NSE:RELIANCE
Reliance given a good breakout from the green trendline on daily chart now have taken support from 21 EMA. If close above it can show a good move as the results were encouraging.
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...
Reliance Industries at resistance level of 2230 again. Preiviously it reached at this level three times. So if this level is broken then it will be very bullish.
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)...
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....
Buy above 2154 , Target 2215 , SL 2140
Nifty Infra Look Good for next week
Treid to pick some good stocks for next week
Monthly and Weekly chart look bullish ,
Buy at resistance breakout
NSE:RELIANCE
Simple Trade Setup
On 15min time frame if you see it made kind of W pattern. And breakout level of it is exactly at 2120 level. Also it is facing resistance from black trendline and breakout of that trendline will give good up move.
Levels and targets are mentioned on the chart. Hope it is easy to understand.
On Daily Time Frame it looks...
NSE:RELIANCE
Today, it went totally down to it's critical support zone 2075-2080.
Good opportunity to short below 2070.
Target are mentioned on the chart.
Keep stop loss at 2088.
All eyes are on Reliance's second virtual AGM that comes in the backdrop of world's worst coronavirus outbreak. India’s most valuable company is expected to give a glimpse of its 5G rollout plan, possible listing of its digital unit and a cheaper smartphone being developed with Google and many more.
Technical view: Bullish Flag Pattern, Trading above all SMAs...
