Reliance is looking strong along with CNX infra. It can give a strong breakout soon.
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...
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.
SUMMARY FOR RELIANCE -stock has formed multiple tops and bottoms on weekly chart -a break in a falling trendline is possible -wait for a confirmation -we are about to enter the supply zone -a weekly close above the supply zone will lead to re-rating in the stock "WEEKLY CLOSE ABOVE 2240 IN FUTURES /SPOT IS IMPORTANT FOR NEXT EXTENSION" "WAIT FOR A...
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.