Stock is forming a triangular structure in an impulsive channel. One should buy on cmp with sl of 2145 for tgt of 2280/2300/2310.
Technical viewpoint ------------------------ Reliance Industries is in a parallel down-trend zone since late July 2020, that is about 10 months. On Friday reliance had the highest OI in FnO June series with roughly 132000 contracts volume. On the same day the stock shot up 6% and crossed 20, 100 & 200 DMA. Currrently it is trading just below 0.5 Fibo levels. So a...
Date: 31 May 2021 Target and SL (support) given in the chart. This is a pure investment idea given on Educational basis. Please trade at your own risk.
Reliance is good case study. It hit target in September 2020
Reliance Ind - Cmp 1947 Looks good to accumulate at current levels with sl 1835 on closing basis. There is a small resistance at 1961. Safe traders can buy once closing above 1961. Reason: 1. Favorable risk reward ratio. 2. Positive bullish divergence.
RIL ind looking good before results. A long term trend line break out on 4H charts and taking support on 61.8 fib levels and 50 EMA showing a great buying on those levels. A perfect confirmation for if closes above 200EMA. WE can buy at cmp and can see a target of 2034 and 2082 with a SL of 1976. RSI above 60 showing a momentum bias for the same and a positive RSI...
Head and shoulder pattern is clearly forming in RIL. Check out the chart for levels.
Sell with sl above 2110 for down side targets of 1700 zone.
Date: 25 March 2021 RIL has made H&S pattern. Look for a 9% target towards downside. Target and SL are given in the chart.
We posted about this analysis on 23rd of March & we suggested to go for short position.
Look for neckline break for shorting. Important to note that the nifty is sustaining below 50DMA.
SCENERIO - Reliance is trading on a very crucial levels. We have Fibonacci 50% level that gives a good reversal sign. We have 200 ma, where price is sitting right now. We have a good support trend line that has been tested multiple times and seems like this trendline breakdown is a good breakdown because there’s an increase in volume too. 1) 200 MA 2) FIBONACCI...
Reliance is looking strong. It gave a trendline breakout and retest in the past but weak markets dragged it down.
Finally Roaring.. so many supply zones and demand zones inside supply zones... unique in many respects.... the new announcement from management makes it better as value unlocking would happen... short term 2300 is writing on the wall.... FOR EDUCATIONAL PURPOSE ONLY
Buy Reliance after the BO of the area above the level 2085 for the first target of 2170 & 2nd target 2290 with the SL of 2020. Once stock touch the level of 2170 try to shift SL. This is for your educational purpose only.
It's been consolidating since very long time, while Nifty is making new highs. If it breaks out , it might give you some good targets. Keep it in your watch.