RIL Reliance at 1.618Reliance has crossed above Fibonacci level 1.618 for stoploss hunting and now trading below the target level
Ril
Reliance broke major Trendline( Bull Trap?? ) As shown in the graph, Reliance was taking major support at Trendline AB, but today that line got breached. So the Real thing that, it's a Bull Trap or some good correction is near.
So the reason why I think its a Bull Trap- (Just my thought)
1) No negativity around it
2) Stock already corrected and consolidated a lot
3) Earning is near
4) Big player breaking down it for dip-buying.
This analysis is done only for educational & intelligence purposes, invest or trade at your own risk &
Hidden Divergence RSI / PriceHIdden Divergences in Established Uptrend / Suspected Re Accumulation Are usually Good bets....
RELIANCERIL after giving Pole and Flag Breakout with high volume, was sideways to negatives till yesterday with low volume. In the process stock retested Break out level and have given upmove again today with increasing volumes.
MACD on daily chart is trying to turn bullish and on weekly chart it is already bullish.
Stock has good support at 2150 levels.
PS: Chart for purpose of learning, please consult financial advisor before investing.
RELIANCE - " Trap Or Correction "After Breakout Reliance Consolidated A Lot, If It Has To Bounce Back, This The Region Where It Has To. Reliance Follow A Trend - After Breakout It Re-tests It Support (Resistance Before Breakout).
If It Bounces Back
Buy Zone -2160-2200
This Analysis Is Done Only For Educational & Intelligence Purpose, Invest Or Trade At your Own Risk & Will.
Reliance May Be Give Good Returns If Breakout Occurs !I'm just waiting for breakout from its pattern if breakout occurs we could see again the previous momentum ..
RELIANCE: READY TRIANGULAR THRUSTCurrent price structure suggest that the triangular wave structure has been completed already as we have got he final setback as wave-e. One should go long with SL of wave-c for the targets which are mentioned on the charts. The price breakout & sustainability above the level of wave-d will bolster this idea.
Reliance: India's reliance !Off the rising Channel (pink )
Though inside the Wedge (rising or falling,...cant makeout)
For the last one month (since July 22) its consolidating.
RSI is at 50.
To mit seems like a Flag & Pennant and the rise would come in the Q4.
RIL ALERTRELIANCE has broken the major support and it has already given a bearish confirmation.
STOPLOSS HUNT SEEMS TO BE OVER ABOVE 1.618
Reliance tomorrow buy at opening target for 30-40 rupeesReliance tomorrow buy at opening price and target price @30-40 rupees
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So 22 aug 2020 profit idea earn how much u can reliance So guys am u r SMR
HAVE A LOOK AND OBSERVE MY IDEA
reliance :sell for Tomorrow I.e.,22 aug 2020
Reliance - 1700+ levels on the cards.Reliance has been bullish for some time, it may touch 1700+ in near future.
Trade using option strategies, some ideas are mentioned in chart itself.
Please carry due diligence, and consult your financial advisor before taking any positions in financial markets.
Reliance Long_target of 187518 June 2020: Reliance Industries
Cup and handle pattern formation completed.
Target: T1 - 1715, T2 - 1795, T3 - 1875; SL = 1525
Duration 30 Trading sessions - 30 July 2020
RELIANCE INDUSTRIES Trading IDEADisclaimer: All charts are purely for educational and information purpose only. Invest or Trade at your own risk.
Don't Just Dial, Take a Call Bearish Rejection at 407, wait for market open to see more rejections and as I said don't just dial, take a call, risk to reward is good on this one. Protect your money and use proper risk management.
About me:- This is your own scammer demo trader who lived in the stone age era & gained immortality by slaying a Ninja Dragon & his unicorn friend about 2.6 million years ago, then the ninja dragon's master challenged me to fight him for his time travelling rainbow coloured shining sword & his rented Ferrari, of course after beating him as well I used his travelling sword along with rented ferrari came down here in the modern age of 2020, sold his ferrari and managed to gather some money for this trading.
Disclaimer:- Don't Listen to me, I'm not a financial advisor
