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.
- Levels are indicated in the charts - Wait for 1200 levels before hopping in
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
BUY RIL 4h timeframe trendline suggests bounceback in reliance with risk to reward ratio of more than 3.5
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...
RIL has formed a H&S pattern in the daily charts, and there was a breakdown closed below the neckline. Target SL mentioned in the charts. Disclaimer: I am a novice in the markets, so please don't construe your trade basis this chart. I post it to see if my views holds true.
NSE:RELIANCE has been on nice uptrend for the last few days, but looks like it may need to correct a bit before further progression. The 20th candlestick has gapped up and with low volume. This pattern also seems to be a regular at the end of any uptrend for reliance, as can be seen on the circled areas. The RSI has not increased proportionally since the last...
Weak- OI Data and @Crucial Support Short: IF Close(15 min) < 1011 TGT : 1000 SL: 1014
Chances of reliance to go upwards. Refer chart for levels.
4.c. has done a very close 1.618 time wave A and the big candle ( Although not a huge volume) may signal a reversal to complete the 5th wave of the up move? Disclaimer: I am new to EWT but found it really helpful to invest in stocks.. The target for wave 5 is somewhere in the range of 1550-1600 .. Please do share your view..
Symmetric triangle formation on Reliance and may break either side. NSE:RELIANCE Trade - Long : Buy above - 1377 Target 1 - 1400 Target 2 - 1430 Stop loss - 1350 Trade - Short : Short below - 1340 Target 1 - 1320 Target 2 - 1285 Stop loss - 1360
Recommendation based on Indicators. Trade: Short below - 1052 Target 1 - 1048 Target 2 - 1041 Stop Loss - 1060 Reward Points - 11 Risk Points - 8
Technical Analysis: EMA 5/20 bullish crossover and EMA 50 lying below the price. Stochastic on bullish but lying in overbought level and may take some correction. MACD on bullish and histogram on above the level '0'. RSI above 50. Trade: Buy above - 1042 Target 1 - 1049 Target 2 - 1058 Stop Loss - 1033 Reward Points - 16 Risk Points ...