Stock is currently trading at its support zone, can show a bounce back for the following resistances 2386-2430-2470 in short to medium term against the support zone of 2290.
We need a decisive price beakout above 2500 for reliance to move up...till then no positions
Reliance ( RIL ) was forming Head and shoulder pattern in 1D time frame. few days back it has breached the pattern and made a good low. now it has passed the retest from neckline and faced rejection from the resistance, in my view Reliance can make a new low from here and i am bearish on this. Support zone can be Found as 200 day EMA.
I will wait for the high to break with volume for any long opportunity in RIL.
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
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...
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.
Breakout retest done Support:- 2340-2360 Targets :- 2500-2700 Avoid below 2200
RELIANCE BREAKOUT IN WEEKLY CHART -indicators are showing strength -rounding bottom breakout -upside potential is high -previous range from 1830-2370 -extended on the upside and based on fibonacci levels -target can be raised to 2700-2900 RELIANCE OCTOBER FUT/SEPT FUT BUY@2385-2390 STOP@2265 TARGET-1@2485 TARGET-2@2560 TARGET-3@2650 -target may be raised...
We saw madness among Bulls about RIL, but what happened to such madness...just check the chart. Heart = Mad Bulls. Pivot 2370
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 CMP 2230 Flag and Pole pattern on weekly charts resistance at 2400 levels can initiate longs
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. ------------------------------------- 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) Everything is mentioned on the chart. I hope it...
Triangle pattern in Reliance Industries ltd. Can give good return in short term
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. ------------------------------------- Trade Setup for Date...
1. Parallel channel uptrend 2. HH/HL Formation in DTF 3. 2133 levels neckline of IH&S Pattern retested (previously shared) 4. Long for target of 2250+
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