Reliance has been giving positive signals on various parameters.
Buy for targets exceeding 1470-1495, keep 1430 as stop loss.
Options Open Interest positions are looking encouraging, futures' build-up suggest shorts covering.
Go long near closing price and keep a stop loss og 1430. 1460-1470-1495 can be expected in near future.
RELIANCE INDUSTRIES HAS GIVEN A BREAK BELOW SUPPORT OF 1225 & CAN NOW BE EXPECTED TO FILL THE GAP. HIGH RISK TRADERS CAN SELL WITH A PROTECTIVE SL ABOVE 1252 FOR TARGET OF 1175-1180.
ril long at givin point and get book profit.
you get 1:4 RR ratio.
that meansgood profit.
there is gap up so ril come at that given point to fill that gap.
Bearish Divergence found on RIL on a large time frame of approx 10 months!!! Rise on sell or Just aggresive sell??? Please give your opinions guys!!! Thank you!!!
Double bottom pattern spotted in Reliance. Pattern is confirmed as price has broken above 1290. Pattern suggests a target of 1333.
However by further inspection we could find a series of considerable resistance at 1300, 1308 and a trendline which might prove to be very significant. Though trading purely based on the pattern would suggest to initiate longs, the...
Head & Shoulder pattern observed in Reliance. However the pattern is yet to be confirmed. So, take bearish view only if neck level of H&S fails to hold as support.
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Double Top pattern spotted in Reliance. At the time of posting the stock is trading at 1293, well below the neck level of 1308 and candle close will most likely confirm the pattern. Once there's a confirmation, the stock can be expected to fall towards 1250.
Reliance seems to be bouncing off after unsuccessfully trying to go above the 13 period EWMA. The selling might continue for 1 or 2 sessions. Sell Reliance below 1327 stop 1338 target open
SWING TRADE IN RELIANCE
JAN FUT
AFTER BREAKING THE BEARISH TRENDLINE STOCK HAS
MANAGED TO BREAK ABOVE THE STRONG RESISTANCE LEVEL
JAN FUT
BUY@1188
STOP@1160
TARGET@1220
LOT:500
QTY:2
Intro : The bump and run is a pattern that is of explosive power in developing markets aiming at maturity. Reliance has just bumped onto and looks to start its run.
For those unfamiliar with this lesser known pattern, this looks like a inverted cup, preferrably on an ascending trendline support angled between 30-40 deg. This has been observed in cases of several...
