There are two patterns formation on Charts.
Weekly a triangle pattern and Daily head & Shoulder pattern formed today.
daily target 2392 may be coming.
2nd possible target 2210 in case of triangle pattern breakdown on weekly chart.
Reliance trading is near good support. Good risk-reward ratio. Support marked. Target new high 2800 in 6 months. long term target 5000 in 4-5 years, value unlocking near like- retail IPO, jio ipo. stay invested.
RIL is consolidating in a range from nearly 10 months. From here good to BUY and Accumulate on DIPs. Short-term 10% up and long-term 20% up possible. Next up move must be a heavy lift to the next accumulation range.
Note: This analysis is from my experience. Please take your financial advisor suggestion before taking position
Reliance looking fresh negative on daily chart it is breaking rounding curved trendline support and giving a fresh negative divergence move on macd indicator too so we can see a downwards move in it in coming sessions but it is looking that it will going for a decent correction after a steep rally.
Cause of short-:
1- Breaking curved trendline.
2- Macd...
Good to keep on the radar as it will help to decide market direction
Always respect SL & position sizing
===================================
Trade Secrets By Pratik
===================================
Disclaimer -
SEBI UNREGISTERED
This is our personal view and this analysis is only for educational purposes.
Please consult your advisor before investing or...
Reliance made all time high breakout on 21 Apr gaining over 60 points during the day. RIL helped a lot to lift nifty on the day.
on April 22 though RIL opened with a small gap down giving indication that this is the breakout level retest. This gave concern, as all time breakout should not have a intraday retest. Retest should have happened after 2-3 days after...
📈 Reliance Industries Ltd. 📉
This broke out from a Resistance Zone of downtrending Trendline and closed above previous swing high of 2450 .
On Buy Side I am looking for Targets of 2552, 2600 and 2730.
StopLoss should be kept below 2350 zone.
It offers 1:2.5 Risk To Reward.
All Important Supports and Resistances are drawn in chart. All levels are on closing...
Reliance cmp 2551
Looking at the chart,
we can observe that from 7th march
this can be possibel wave counts...
so whenever this downside move gets complete,
we can see RIL start to complete its journey
Chart is for study purpose only!!!
irctc is moving in a range . it can give big move if it break darvas box with strong volume ..
learn and earn . dont invest blindly . always buy in recession market and sell in boom market .
Currently trading at 13% discount from all time high levels.
Reliance (TF=W) :
1. Stock has always respected 50 Weekly Exponential Moving Average
2. Constantly making the structure of HH and HL. Currently made Equal Low.
3. Negative Crossover of 5 and 13 Weekly Exponential Moving Average
Reliance (TF=D) :
1. It has made very strong bullish candles on Support...
Swing trading idea for Reliance industries, i'm looking for Buys first and Sell from Weekly supply zone, look for the proper break of structure in Lower time frame before even buy or sell from the levels
NSE:RELIANCE Has took support at 7 months old trendline, It can boost from hare for its previous high of 2560 as marked in the chart with red dotted line. You can add this to your portfolio for Swing trade For period of almost 2-3 months. If Budget 2022 will give positive view it can complete the target within a month or two Risk Reward ratio is also impressive....
CHART -> RELIANCE WEEKLY SETUP
As seen per the chart we are seeing a range of 2250 to 2325, was a previous resistance for Reliance and after the Breakout has been done, now in this correction that range is acting as it's support.
This for educational purpose only.
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI...
HI ALL,
EQTY NAME - Reliance (RIL)
BUY ABOVE - 2432 TARGET 2470+ SL 2405
SHORT BELOW - 2400 TARGET 2460 SL 2430
DISCLAIMER- kindly do your own analysis before investing.
